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Mike Hofer, a Fargo businessman, has a $36 million lawsuit filed against him as part of Tom Petters' $3.65 billion fraud.

Fargo businessman targeted in lawsuits to recover money in Petters fraud case

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Mike Mullin, president of St. Cloud (Minn.) Cathedral High School, received a letter earlier this year asking the school to return a $252,000 gift it received four years ago from convicted businessman Tom Petters.


If the bankruptcy trustee who made the request wants the money, Mullin suggested that he take the school's elevator. After all, he noted, that's where the money was spent.

"It's a hard asset rather than a liquid one," Mullin said.

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