Monday, February 11, 2013

When Did Frank Vennes First Learn About the Fraudulent PCI Notes?

When Frank Vennes pled guilty February 1st, he claimed he did not know of the Petters fraud until September of 2008 (I don't have access to a transcript, but my notes say Septermber 25, 2008). Federal agents raided the homes of Frank Vennes on September 24, 2008.

The Star Tribune reported back in 2009:
Frank Vennes Jr., a Shoreview businessman who recruited investors for Tom Petters, learned that the operation might be a fraud scheme in December 2007...
 Interesting...