St. John’s Abbey to return $2 million from Petters


(MPR) The monks of St. John’s Abbey voted this week to return a $2 million gift from the Thomas J. Petters Family Foundation for construction of the Petters Pavilion, and to rename the facility.

The decision follows the recent conviction of businessman Tom Petters on 20 counts of fraud, conspiracy, and money laundering.

The College of St. Benedict in St. Joseph also changed the name of the Petters Auditorium at the Benedicta Arts Center.

Both gifts were used to expand facilities.

St. John’s Abbey says representatives are in discussions with the court-appointed receiver, who is responsible for recovering as much money as possible for victims. A final agreement on how to repay the money is expected soon.

St. John’s Abbey hasn’t selected a new name for the facility yet.

St. John’s Abbey to return $2 million from Petters
MPR News – Ambar Espinoza
December 18, 2009

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Topics: Tom Petters

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