The article quotes attorneys involved in the Palm Beach Finance Partners bankruptcy, but does not mention Frank Vennes. Quote from the complaint in the article:
"From Jan. 1, 2003, through Aug. 31, 2008, the astronomical sum of $35.35 billion was deposited into the M&I account"
Quote from the article:
The lawsuit, filed late last year, alleges that Petters could not have kept his Minneapolis-based fraud afloat had M&I enforced an agreement it signed that was designed to protect a Florida investor group that unwittingly helped finance the Petters scheme.
The MN DOJ had this to say about M&I and Vennes/Fry:
Accordingly, the first two false statements set out in the Bill of Particulars under Count 26 - “FRY testified that he believed that retailers paid the custodian bank directly until September 24, 2008" and “FRY later testified that he believed that retailers paid the custodian bank directly until he learned about the clearing account, but he was told by FRANK VENNES that the clearing account was controlled by M&I Bank not Petters” will both be proven false by the introduction of evidence, amounting to proof beyond a reasonable doubt, that defendant Fry knew from the earliest days of his involvement with Frank Vennes and Tom Petters that money to pay off promissory notes ALWAYS came from PCI and NEVER came from the retailers.
The complaint against BMO Harris Bank regarding M&I (PDF) at the PBFP bankruptcy website.
A report (PDF) by Kinetic Partners that mentions M&I bank.
