Tom Petters Net Worth

Petters was convicted of 10 counts of wire fraud, 3 counts of mail fraud, 5 counts of money laundering, and a count each of conspiracy to commit mail and wire fraud and of conspiracy to commit money laundering. Petters started a mail-order stereo company called Ear Electronics while he was in high school. He purchased five electronics stores in Colorado and Kansas. He founded Amicus Trading and later changed the name to The Petters Company. He started Petters Warehouse Direct to sell closeout and overstock merchandise. Petters teamed up with Fingerhut Companies Inc. to start the new online store Redtagbiz.com.