Updated: 07/16/2009 1:57 PM KSTP.com | 
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New Twist in Tom Petters Case
MINNEAPOLIS (AP) - There's a new twist in the federal racketeering case against Minnesota businessman Tom Petters.
Authorities are charging that an Illinois hedge fund manager who claimed to be the biggest victim of Petters' alleged Ponzi scheme was actually a participant in it.
The Securities and Exchange Commission on Friday charged Greg Bell and his company, Lancelot Investment Management, with fraud.
Ron Peterson, a trustee for Lancelot's investors, says Bell was arrested Friday in Highland Park, Ill., and was taken to the Anoka County jail. The criminal complaint against Bell in federal court in Minneapolis is sealed, but Peterson told the Star Tribune newspaper that the fund manager could appear in court as early as Monday.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
