Created: 11/06/2009 7:12 PM KSTC45.com | Print Story By: Becky Nahm

Prosecutors: Ex-Petters Co. CFO "Lied for a Living"

The defense in the Tom Petters fraud trial tried to discredit his company's former chief financial officer who was on the stand for a second day.

Thursday Robert White testified Petters not only knew about an alleged Ponzi scheme, but micromanaged it.

Friday, during cross examination, the defense went after White for his own role in the scheme.

White has admitted to making thousands of fake documents to keep the scheme going. He has pleaded guilty to fraud-related charges. He faces up to 30 years in prison.

Petters' attorneys asked White, "Isn't it true that you lied for your living for at least ten years, sir?"

White responded, "Yes."

Petters' attorneys say White and the company executives who claim Petters was behind the scam have a long history of lies and deception.

They're trying to prove the employees ran the scheme without Petters knowledge.

Also Friday, prosecutors called father and son businessmen, Ronald and Paul Breckner, to the stand.

Petters borrowed $5 million from Breckner's Burnsville business in 1996. The Breckners said he claimed to use the money to buy electronics from 3M and then resell the equipment to retailers for a quick profit.

Ronald Breckner told 5 EYEWITNESS NEWS, "He had all the right letterheads, the documents all looked correct, (with) 3M's logo on it. We had purchase orders from Wal-Mart, Costco, all the key people. It sure looked like a legitimate thing."

Paul Breckner testified about a heated conversation he had with Petters when repayment checks started to bounce.

He said, "I'm sure Tom remembers that encounter. That's about all I'm going to say."

The Breckners said Petters did eventually repay the loans.