Tom Petters Home Hits the Market

The Wayzata home of the infamous Tom Petters just hit the market in the last 24 hours, and at a grand price of $7,775,000. It sits on 1.2 acres and 250 feet of Lake Minnetonka shoreline. If you want to buy a very nice home and need some space, this 9300 square foot luxury estate will not disappoint.

In case you don’t remember, or live out of state, Mr. Petters is the founder and former CEO of Petters Group Worldwide and was arrested last year on 20 federal fraud counts for an elaborate Ponzi scheme in the realm of $3.5 Billion. Many of his properties and toys are being sold in the effort to pay back the victims of his scheme.

2 comments… Join the conversation and add your own!

Anonymous May 1, 2009 at 5:13 pm

this is actually not correct. It has been up on burnetandbirkeland for about 1-2 weeks. The 7.75m price is actually reduced from 8.25m, here is the google cached page from a few days ago that shows this:

Jennifer Kirby May 4, 2009 at 7:13 am


I took a look at your cached page and I don’t see any reference to a price reduction. According to the MLS, the home was placed on the market April 30th at the list price of $7,775,000. It has not been previously listed, nor has there been a price reduction in its history on MLS. If the listing agents placed it on their personal website before placing it on the MLS, I would have no knowledge of this as that information is not reflected in the MLS database. If they placed the sign in the yard before hand, then they would have to have a signed consent form from the seller to withhold it from the MLS. Thanks for commenting. I always present accurate data/information as the MLS displays.

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