Three Convicted in Ponzi Scheme had Goals to Buy Stake in Minnesota Wild
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cbsnews.com
The Ponzi scheme was Minnesota's second largest, behind only the $3.65 billion fraud that Wayzata businessman Tom Petters was convicted of orchestrating. While the Petters scheme mostly targeted hedge funds, Cook's scheme heavily targeted conservatives. Kiley and Durand pitched it on a Christian shortwave network and talk radio stations, while Beckman solicited investors among the wealthy clients of his investment advisory company.
Prosecutors said Beckman also attempted to defraud the National Hockey League as part of the scheme with a failed effort to buy a $5 million piece of the Minnesota Wild in 2009.
