Monday P.M. Report

Petters accountant who aided $20 million tax evasion gets home confinement: The accountant who said he “lost [his] way” working for Tom Petters was sentenced to one year of home confinement Monday morning for helping the disgraced Minnesota businessman evade about $20 million in federal taxes. U.S. District Court Judge Richard Kyle sentenced James Wehmhoff, the former executive vice president of corporate tax for Petters Group Worldwide who pleaded guilty in December 2008 to conspiracy to defraud the United States and aiding and assisting in the filing of a false tax return. Wehmhoff’s attorneys said his debilitating and life-threatening medical conditions called for the home sentence. Read full story

Report: Wrangler cutting back on Favre ads: Wrangler appears to have scaled back on its jeans ads featuring Minnesota Vikings quarterback Brett Favre, according to a CNBC report. Favre’s Wrangler spot only ran 10 times on smaller channels such as Versus, FX, Speed and the History Channel on Sunday, the same day Favre and the Vikings eked out a close 24-21 win against the Dallas Cowboys. The Favre ad was not run during an NFL broadcast, according to CNBC, which drew on data from Front Row Analytics. Read full story

One Percent Club announces partnership with Social Venture Partners Minnesota: The One Percent Club, which has some of the wealthiest Minnesotans donating 1 percent of their net worth each year to charities, is seeking to rejuvenate itself through a partnership with a group called Social Venture Partners Minnesota, according to a report in the Star Tribune of Minneapolis. The partnership is meant to help the One Percent Club reach out to younger rich people. Read full story

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