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Associated Press - November 3, 2009 4:34 PM ET
ST. PAUL, Minn. (AP) - Attorneys for Minnesota businessman Tom Petters are trying to establish the legitimacy of some of his business deals as they defend him against fraud charges in an alleged $3.65 billion Ponzi scheme.
Attorney Paul Engh (ENG) pressed Deanna Coleman, a former Petters associate who went to prosecutors last year to reveal the alleged scheme, about operations of Petters Co. Inc. in the 1990s.
Coleman is a star witness for the prosecution, but under cross-examination she acknowledged that Petters did legitimate deals with companies like Dayton's, Polaroid and Best Buy.
Engh also used his questions to remind the jury of the slaying of Petters' son John in Italy in 2004. The defense claims Petters was so distracted by his son's death and other ventures that he was unaware that Coleman and others were carrying out a Ponzi scheme.
The 52-year-old Petters, of Wayzata (wy-ZET'-uh), is charged with 20 fraud-related counts.
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