Minn. Scholarship Charity Carries on Through Founder’s Legal Woes
September 3, 2009
A college-aid fund in Minnesota is continuing to award scholarships despite its founder’s impending trial on fraud charges, the Star Tribune reports.
Suburban Minneapolis businessman Tom Petters was arrested last year on allegations that he defrauded investors in a $3.65-billion Ponzi scheme. The John T. Petters Foundation — named for his son, who was murdered in Italy in 2004 — has suspended most fund-raising activity but is existing on its endowment and accepting 2010 applications after awarding 19 scholarships this year.
