Minnesota is no stranger to the financial fallout from major Ponzi schemes. The Trevor Cook and Tom Petters cases occurred here, and both led to huge losses for investors.
The economy is no longer officially in recession, but it remains tough. In Minnesota as in the rest of the nation, the real estate market is still very slow and unemployment remains high. Belt-tightening is the order of the day for many businesses and individuals, as well as government agencies and nonprofits.