Ex-Arrowhead Exec Cops To Cover-Up Of Petters Plot

Law360, New York (April 8, 2011, 4:25 PM EDT) -- A former Arrowhead Capital Management LLC executive pled guilty in Minnesota on Friday to hiding information from investors and federal prosecutors about the fund's involvement in concealing Thomas J. Petters' $3.7 billion Ponzi scheme.

Michelle Webster Palm, 43, pled guilty just three days after she was charged before Judge Richard H. Kyle of the U.S. District Court for the District of Minnesota to one count of securities fraud and one count of providing false statements to a government agent.

Arrowhead's funds invested almost exclusively in Petters...
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