Film Alleges Fed 'Fraud' Against Victims of $3.65 Billion Ponzi Scam

Victims of a massive financial fraud will unveil a documentary Aug. 25 in Minneapolis that portrays federal authorities as helping bankruptcy lawyers and the government feast on dwindling victim assets without adequate protections for fairness. The Second Fraud, spiked last December from planned showings on four Minnesota TV stations, tackles an especially sensitive story in that state: What happened after local financier Thomas Petters caused the estimated $3.65 billion in losses that authorities revealed in September 2008?