Local Business

Petters treasurer testifies to forging documents

11/5/2009 7:30:01 PM

Associated Press 

ST. PAUL The treasurer of the company at the heart of the alleged $3.5 billion Ponzi scheme run by Tom Petters testified to forging thousands of documents over a decade of working for the high-profile businessman.

Robert White took the stand Thursday in the Petters trial on behalf of prosecutors. White testified he forged some 10,000 purchase orders, bank statement, letters and other documents.

Prosecutors claim the idea was to make investors believe their money was being used to buy and sell consumer electronics for big profits, but they claim the goods only existed on paper.

White testified Petters would sometimes try to frighten him while he forged the documents by banging on the door and pretending to be an FBI agent. White didn't think it was funny.

White has pleaded guilty to various charges related to the alleged scheme. Petters says he's innocent.

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