Report: State, IRS Seek $2.5M in Petters Assets

The Pioneer Press reports that the Minnesota Department of Revenue and the IRS, which have identified tax liabilities dating back to 2004, are asking for $2.5 million in ill-gotten assets being controlled by receiver Doug Kelley.

It's been more than a year since convicted Ponzi schemer Tom Petters was sentenced to 50 years in prison-and gathering ill-gotten assets and determining how they will be distributed to victims of the fraud has been a long and heated process.

According to a report by the Pioneer Press, the state government and the Internal Revenue Service (IRS) are the latest to join a long list of people and entities looking for a cut of the assets.

They're reportedly seeking a total of $2.5 million in assets controlled by Doug Kelley, the court-appointed receiver in Petters' case. They have identified tax liabilities dating back to 2004.

Kelley and his team are seeking some guidance in the complicated case, and a hearing is scheduled for August 10 in front of U.S. District Judge Ann Montgomery to help determine how to proceed.