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Petters Group cuts 50 employees

Petters Group cuts 50 employees

Petters Group Worldwide’s assets were frozen earlier this week. The company’s former CEO, Tom Petters, is now in jail without bail after federal investigators discovered several accounts of fraud.

Sun County Airlines, owned by Petters, filed for Chapter 11 bankruptcy protection Monday. Sun Country employs 850 people.

With the continued fraud investigation Petters have decided to lay off 50 employees.

The specific company’s making the cuts (owned by Petters) have not yet been disclosed.