Tom Petters to appear in court today in hopes of release

Our favorite millionaire has a hearing this morning in hopes of escaping jail while the prosecution builds the amazingly huge case against him. Tom Petters, former CEO of Petters Group Worldwide with holdings in Sun Country Airlines, Polaroid and other companies is accused of a more than $3 billion Ponzi scheme against investors.

Catch up on the drama in our Tom Petters Blotter archive. His buddy Larry Reynolds was released on bond yesterday.

His detention hearing this morning is in federal court in St. Paul. It's scheduled for 10:30 a.m. before Chief Judge Michael Davis.

He was previously held in jail because he was a flight risk. Authorities recorded him talking about his potential to leave the country before his trial.

While we would enjoy knowing he was still sitting in jail living the clinker life, we wouldn't mind staking out his home in hopes of catching a glimpse of him.