Nonprofit, nonpartisan journalism. Supported by readers.


Tuesday P.M. Report

Ponzi schemer Trevor Cook sentenced to 25 years, Land O’Lakes subsidiary recalls eggs, Capella University names new president, and Best Buy names chief design officer.

Ponzi schemer Trevor Cook sentenced to 25 years in prison: Trevor Cook was sentenced to 25 years in prison this morning for orchestrating a Ponzi scheme that lost $158 million belonging to more than 900 investors. U.S. District Judge James Rosenbaum denied Cook credit for time served in custody and handed down the maximum sentence for Cook’s guilty plea to mail fraud and tax evasion, as requested by federal prosecutors and defrauded investors alike. Rosenbaum will recommend that Cook be imprisoned in the Upper Midwest. Read full story

Land O’Lakes subsidiary Moark recalls potentially tainted eggs: Land O’Lakes subsidiary Moark is recalling nearly 292,000 eggs that may be contaminated with salmonella, the company said today. Moark is recalling repackaged eggs sourced from Hillandale Farms, one of two Iowa producers responsible for a widespread recall. Moark President and CEO Craig Willardson said none of the eggs were produced by his company. Read full story

Capella University names new president: Larry Isaak will be Capella University’s next president, the school said today. Interim President Mike Offerman will remain with Capella after Isaak, a former North Dakota State University system chancellor, takes over in November. Isaak is currently president of the Midwestern Higer Education Compact in Minneapolis. Read full story

Best Buy names chief design officer: Best Buy Co. today named California design firm principal Aura Oslapas as its new chief design officer. Oslapas was most recently the principal of design boutique A+O Design Methods in San Francisco. She will oversee the Richfield-based consumer electronics retailer’s worldwide design and brand identity team. Read full story