Thursday P.M. Report

Minnesota man admits to $8 million fraud: A Minnesota businessman pleaded guilty in federal district court today for carrying out an $8 million fraud scheme. David McCaffrey, CEO of ConServe Corp., admitted in a St. Paul federal court to defrauding investment groups, including the Carlton Financial Corp., out of millions. He used phony technology installations to commit the fraud, the U.S. Department of Justice announced today. Read full story

Wells Fargo expands student-loan offerings: Wells Fargo & Co. has launched a student loan geared at helping parents cover their children’s education costs. The Wells Fargo Student Loan for Parents comes with no fees for origination, disbursement or early repayment. Proceeds are sent directly to the parent or sponsor accepting the loan. Read full story

Blu Dot wins honors at International Contemporary Furniture Fair: Blu Dot Inc. won high marks for its funky designs at the International Contemporary Furniture Fair, held earlier this week in New York City. Minneapolis-based Blu Dot received the award for having the best entire body of work. The firm was started by John Christakos, Charles Lazor and Maurice Blanks in 1998 after the three friends graduated from college. Read full story

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