As Tom
Petters spends a long weekend in jail one has to wonder what is going through
his mind.
According
to my sources and court documents federal authorities were convinced Petters
was going to leave the country.
My sources
say Petters has been under 24 hour surveillance since authorities raided his
company 11 days ago.
In the days
immediately after the raid my sources tell me Petters was texting friends
assuring them the investigation was not a big deal and they wouldn't believe
what it was all about.
It turns
out the investigation is a staggeringly big deal. The government has mapped out
a fraud scheme that is in excess of $1 billion.
My sources
tell me the mole in all this is Petters long time personal assistant who wore a
wire for months. My sources tell me this woman collected up to $8 million in
bonuses from Petters in the past few years.
My sources
tell me that a number of local business people are dealing with the reality
that they are out millions after having invested with Petters.
Expect
prosecutors to argue for no bail at Tuesday's detention hearing.
