Whistleblower
Advocates
Award Winning Attorneys
Defendant Fry was Owner and President of the entity defendant, Arrowhead Capital Management, and Palm was its Managing Director. They reaped over $40 million in fees by selling interests in the funds managed by Arrowhead to investors throughout the country, and funneling that money into the multi-billion dollar Ponzi scheme operated by Minnesota businessman Thomas Petters, whose fraud they also perpetuated with secret note extensions. Fry overwhelmingly was the beneficiary of this conduct, and he ultimately was sentenced in a criminal proceeding to repay all of the misbegotten wealth, and 17½ years in prison.