Day 14 -Tom Petters Trial

November 17, 2008

In the morning, Steve Ratliff, former President of Red Tag testified about working for Tom Petters. He testified that Tom Petters was loved by his employees and gave lots of money to charity. On redirect, Assistant U.S. Attorney John Marti asked Ratliff about Tom Petters's posh homes, cars and showed pictures of the PCI corporate jet. Ratliff said Petters used the jet for business and pleasure.

A few more people testified; A shipping manger, an accountant who wasn't allowed to look at bank statements, Tom Petters's speechwriter and the human resource manager at Petters Worldwide... but everyone, including Tracy Mixon, Tom Petters's fiancee was waiting for the main event - the testimony of Tom Petters.

Tom Petters took the stand at four o'clock and talked about growing up in Saint Cloud and his start in the merchandise diverting business. Petters said the merchandise diverting business had a lot of people who did nasty stuff like bounce checks. He admitted he bounced checks too.

Petters said he said he was not guilty. He admitted participating in the fraud, but blamed others he said he trusted too much.

Tom Petters will testify again tomorrow.