In December 2009 "The Second Fraud," was ready to air on Minnesota local television networks. However, within days of being notified, broadcasters refused to run the documentary without disclosing any reason for such refusal.
A representative of North Woods Advertising, the company which placed the broadcast stated, "We had made an agreement with all the major television stations in Minneapolis to air The Second Fraud, then at the last minute, the stations backed out and wouldn't comment as to why. It seems that the content of the piece is controversial enough in exposing government-enabled fraud that a lot people do not want to be in the way of whatever backlash there might be."
After an inquiry by the film’s producers it was stated by some broadcasters that the content was too “controversial” and that “pressure” to not air the piece was a factor in the decision to block the broadcast.
“The Second Fraud” sheds light on how local Minneapolis businessman Tom Petters defrauded investors out of billions of dollars - leading to America's first billion dollar Ponzi Scheme (uncovered just weeks before the Madoff story broke), but is focused on the botched and questionable deterioration of Petters’ legitimate organizations as they were liquidated as a means of paying the professionals dismantling the Petters Empire. The public would expect that after convicted of such a crime, the fraud would end and the victims would receive reimbursement. But at this point, nobody could explain where the money had gone and the Government has ruled that no restitution be paid to the victims.
According to attorney Garrett Vail, Doug Kelley and Lindquist & Vennum are in charge of the whole Petters' empire. In an unprecedented decision, Doug Kelley has taken on all roles in the case which include; the initial defense attorney for Thomas Petters, receiver and bankruptcy Trustee. Mr. Kelley has also received judicial immunity in this case, a protection only afforded to sitting judges, not everyday citizens. The victims have yet to share in any portion of the “clawbacks” and other liquidations of the Petters properties as all funds and assets go directly to pay the legal, accounting and other professional fees required by Kelley and his team - leading to a second victimization of the investors.
Now that local networks have banned it on Minnesota television, Hillside Productions has enlisted North Woods Advertising to premiere a theatrical release of “The Second Fraud: a Ponzipalooa” on August 25th at the Uptown Theatre in Minneapolis, MN. This documentary film digs deep to expose questionable alliances, back door dealings and flawed legal system that made this “second fraud” possible.
"Tom Petters spilled a bucket of paint and the professionals that are supposed to be cleaning up this mess are just smearing the fraud around, and around, and around." - Attorney Garrett Vail
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