A federal jury in St. Paul on Friday acquitted Prior Lake businessman Craig Potts of all 26 charges prosecuted by the United States Attorney’s Office.
The controversial indictment, which the United States Attorney’s Office persisted in pursuing despite the need to revise its indictments twice and skeptical comments from a federal magistrate judge questioning the sufficiency of the evidence, alleged a variety of crimes, none of which survived the jury verdict and a prior order of the court.
During the trial, four other counts were dismissed by United States Federal District Court Judge Paul Magnuson in a strongly worded order, a result of misconduct by federal agents during the investigation.
"While we're elated with the result," said Potts’ lawyer, Roger Magnuson (no relation), "this is a case which should never have been brought."
"Craig Potts was totally innocent of all these charges. This is a complete vindication for Craig," Magnuson said.
"It's been a terrible ordeal for me and my family, but a tremendous relief to be found innocent of all charges by a unanimous jury" said Potts, the former CEO of Cash Systems, Inc., who has a variety of business interests throughout the United States.
The case arose from events occurring in 2003. At that time, Cash Systems provided check cashing services to the Leech Lake Band of Ojibwe and the Band's three casinos. The government claimed that loans made by Cash Systems to the tribal chairman, Pete White, constituted illegal gratuities. The indictment also alleged a variety of other charges.
The jury took approximately half a day to find Potts innocent of all 26 charges.
For more information, contact Roger Magnuson.