Prized Tom Petters Possessions Available to Highest Bidder

Former Wayzata resident is currently serving a 50-year prison sentence after being convicted in 2009 of bilking investors out of billions.

Dozens of items belonging to convicted Ponzi scheme orchestrator Tom Petters will be auctioned off tonight in St. Paul. Petters lived in Wayzata up until his arrest in 2008. He is currently serving a 50-year prison sentence in Leavenworth, Kansas.

Included in tonight's auction are an assortment of antiques and collectibles—including art, sports memorabilia and other rare items. Some of the highlights include a boxing glove autographed by Sugar Ray Leonard, signed Peter Max pieces, Versace sunglasses and a vintage cigarette machine.

Proceeds from tonight's auction will be used to help reimburse the victims of Petters' multi-billion dollar Ponzi scheme.

A full list of the items to be sold can be found by clicking here.

Petters' home on Lake Minnetonka sold in 2010 for $5 million after being on the market for more than a year. Petters purchased the mansion on Bushaway Road in Wayzata for nearly $9 million. His personal possessions have been auctioned off in waves over the last two years as court-appointed receivers attempt to recoup investor losses.

Tonight's auction at Luther auctions in St. Paul begins at 6 p.m. and will also include items from the estate of the late Minnesota sports writer Dark Star.

Luther Auctions is located at 2556 East 7th Avenue in St. Paul.
North St. Paul


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something