Minnesota Ponzi scheme

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Another Massive Ponzi Scheme Probe Under Way In Minnesota; Case Reminiscent Of Alleged Ponzis Of Tom Petters, Matthew Scott And Andy Bowdoin

Gerard Frank Cellette Jr. is suspected of operating a Ponzi scheme that involved tens of millions of dollars and was based on bogus printing contracts, prosecutors in Minnesota said yesterday.
Cellette, 44, of Andover, Minn., owes investors at least $53 million, according to the felony complaint filed by the office of Hennepin County Attorney Mike Freeman.
Prosecutors [...]