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Tom Petters' lakeside estate under contract for $5M

Chalk up a win for the victims of Tom Petters' $3.5 million Ponzi scheme: His 6,300-square-foot home at 655 Bushaway Road in Wayzata is under contract to a buyer for $5 million, according to papers filed by the bankruptcy trustee in the case.

While $5 million may sound like a lot, it's actually less than the original asking price of $8.25 million, as well as the most recent price cut to $6.25 million.

Here's a look at what Petters may remember from the good old days, as he starts serving his 50-year prison sentence:

Tom Petters' lakeside estate under contract for $5M

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