Petters memorabilia to be auctioned Monday night

  • Article by: Star Tribune
  • Updated: October 12, 2012 - 8:26 PM

Most items came for the scamster's Lake Minnetonka home -- including a Muhammad Ali poster.

Tom Petters

Photo: Glen Stubbe, Star Tribune

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The last vestiges of the personal estate of convicted felon Tom Petters will be up for auction on Monday.

Items available to the public include a Leroy Neiman painting of a duck, a framed Muhammad Ali fight poster, two Ansel Adams works and other assorted memorabilia.

The auction will be begin at 6 p.m. at Luther Auctions, 2556 E. 7th Av. in North St. Paul. The items can be previewed Sunday from 4 until 8 p.m. and Monday from 10 a.m. until 6 p.m.

The auction items are in the custody of the U.S. Marshals Service, which received the goods from Petters court-appointed receiver Doug Kelley. Proceeds will go into a pool for victims of Petters' $3.65 billion Ponzi scheme.

The bulk of the items came from Petters' Lake Minnetonka home and were taken by Kelley as he liquidated Petters' personal assets.

"We sold anything we thought was of great merit," Kelley said Friday.

Petters currently is serving a 50-year prison sentence on fraud, money laundering and conspiracy.

The Petters collection also contains sports items, including a framed Whitey Ford autograph, a Billy Jean King bobblehead and a leather Vikings jacket.

Also available at the auction will be sports cards from the collection of the late broadcast personality Dark Star.

DAVID PHELPS

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