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Associated Press, Published August 09 2012

Minnesota home connected to Ponzi scheme seized

MINNETRISTA, Minn. — A Minnesota home purchased with proceeds from a Ponzi scheme will be seized by federal officials.

A judge has authorized the U.S. Attorney's Office to seize the home in Minnetrista linked to Tom Petters. He's serving 50 years in prison for a $3.5 billion fraud scheme. The home was most recently occupied by the ex-husband of a former Petters' associate, Deanna Coleman. She was a key witness in Petters' trial and served less than a year in prison for fraud.

The St. Paul Pioneer Press says Coleman's ex-husband kept the house after their divorce. He died in June at age 55. The house has an estimated value of about $580,000.

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Information from: St. Paul Pioneer Press, http://www.twincities.com

Copyright 2012 The Associated Press.