Federal prosecutors have charged a top accounting executive at an Illinois investment firm for helping to defraud investors connected to Wayzata businessman Tom Petters.
Harold Alan Katz, a vice president of finance and accounting for Lancelot Investment Management in Chicago, conspired to create fake banking transactions to make the fund's investors believing that Petters was repaying loans in a timely manner, according to documents filed with U.S. District Court in St. Paul.
The documents, unsealed Friday by U.S. District Judge Paul Magnuson, indicate that Katz has struck a plea agreement and will likely cooperate with prosecutors in their criminal case against Petters and Lancelot founder and owner Gregory Bell.
Amy Klobuchar & Frank Vennes
6 years ago
