Governor signs legislation protecting non-profits from Ponzi clawback claims

MINNEAPOLIS (WCCO) – It has been more than two years since Tom Petters was found guilty of running a $3.5 billion Ponzi scheme.

But the effort to recover money for Petters’ victims, some of which are in bankruptcy, has run smack into concerns by charities that received millions in donations from Petters and rely on that money to operate.

Late last week, the Minnesota Legislature overwhelmingly passed a bill that would limit the amount of money that the Petters’ trustee could try to recover from charities he donated to.

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