TOM PETTERS was arrested Oct. 3 on a federal complaint charging him with mail fraud, wire fraud, money laundering, and obstruction of justice. Petters, 51, the former CEO of Petters Group Worldwide, allegedly ran a pyramid scheme that defrauded investors of more than $3 billion. Petters resigned as CEO shortly before being arrested and charged; he is currently being held in jail because a judge determined he was a flight risk, but he continues to maintain that he is innocent.
The mushrooming scandal swirling around Tom Petters's alleged $3 billion fraud has engulfed so many local people and businesses that it's hard to keep them straight. We've assembled this slideshow so that you can follow along at home.