David Phelps

Reporter | Professional services
Phone: 612-673-7269
David Phelps covers the business of law, advertising and financial services. He previously led coverage of the Tom Petters fraud investigation and continues to cover its afternmath. Phelps is a former member of the Star Tribune Washington Bureau who has also covered state and local government and politics.

Recent content from David Phelps

Defense attorney, key witness spar in Petters-related trial

Michelle Palm was cross-examined by attorney of hedge fund manager James Fry, who says he’s innocent in the $3.65 billion...

Updated: May 31, 2013, - 08:13 PM

Executive: Arrowhead misled investors in Petters deal

Michelle Palm, who worked for owner James Fry, said at his trial that hiding the source of Tom Petters’ payments...

Updated: May 30, 2013, - 11:18 PM

Key witness in Fry trial expected to testify Thursday

With the Petters-related trial at the halfway point, several key witnesses are waiting to take the stand.

Updated: May 29, 2013, - 08:03 PM

Witness: James Fry aided sales efforts even as the Petters Ponzi scheme crumbled

Fund manager sought new investors as Petters fraud began to come apart, a former executive testifies at Fry’s trial.

Updated: May 28, 2013, - 08:49 PM

$150M loan unraveled for Petters associates, banker testifies

Petters associate’s admission about past led Barclays Bank executive to halt a line of credit.

Updated: May 21, 2013, - 09:01 PM

Defense attorney: Petters duped my client

Hedge fund manager James Fry is on trial, accused of lying to investors in $3.65B Ponzi scheme.

Updated: May 20, 2013, - 09:34 PM

Trial of Petters associate to open Monday

Prosecutors say James Fry lied to investors and SEC in the $3.65 billion Ponzi scheme. The hedge fund manager denies the charges.

Updated: May 19, 2013, - 11:15 AM

Motivation is their business at MotivAction of Plymouth

MotivAction designs incentive programs for large companies looking to inspire sales, loyalty.

Updated: May 18, 2013, - 05:52 PM

Tom Petters plea claim called hard to prove

It’s a “last gasp,” an expert said of the convicted Ponzi schemer’s contention about his sentence.

Updated: May 13, 2013, - 09:22 PM

Philip Falcone, firm agree to pay $18 million in fraud case

Affiliates say settlement is neither admission nor denial of wrongdoing.

Updated: May 12, 2013, - 10:24 AM

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