The Trial of Tom Petters -- Day 16 features gondola sex NSFW
Petters. Hopemen asked Petters to explain some of the incriminating
remarks we heard on the recordings and testimony of witnesses in the
Petters said the business was filled "with nonsensical excuses and
Petters said that faked purchase orders was the way they did business
He also admitted to having been prescribed Adderall and Klonopin for
his ADD. He said the dosage was tripled and made him sound "like a
maniac" on the tapes.
Petters got way emotional when Hopeman asked him about the day
Petters resigned. He leaned back in his chair and choked back the tears.
Assistant U.S. Attorney Joe Dixon began the redirect examination by
asking Petters about his tax returns that "year after year" showed
Petters was evasive about the tax returns, blaming his accountant. He
claimed he just signed the tax returns.
Dixon asked Petters whether he had sex with Deanna Coleman. At first,
Petters refused to answer the question, but admitted he had a sexual
relationship with her in Italy.
Dixon asked Petters if he had told his personal assistant, David
Margolis that he had sex with Deanna Coleman in a gondola. Petters
Dixon hammered away at Petters on his business dealings and the
statements he made on tape and in emails that indicated he knew PCI
was a fraud. Dixon told Petters he had "Ponzied" his father-in-law.
Petters denied knowing he was running a Ponzi scheme.
When Dixon asked Petters about his Bentleys, Petters replied that he
was not a "Bentley guy" after Dixon showed a receipt for one of posh
cars, Petters said, "okay, I'm a Bentley guy".
Petters lost his cool at times as Dixon pressed Petters to admit
PCI was a fraud that kept his other companies afloat. Petters
admitted PCI was "the cash cow for all my companies" and that he was
"involved" in the scheme, however he still maintained that he was not
responsible for the scheme.
Dixon asked Petters if his former associates were "instruments of
darkness", borrowing the phrase Jon Hopeman used in his opening
statement. Petters said, "yes, they were my instruments".
Dixon said Petters former associates had made millions of dollars
and Petters took $400 million. Petters said, that's what got put in
There will be more testimony from Tom Petters and very likely closing