Feds return $22M to Inter-Mark workers after raid
Published 1:06 pm Saturday, June 25, 2011
ST. PAUL — Sixteen months after a Minneapolis company was raided in a Ponzi scheme investigation, federal authorities have agreed to return about $22 million to workers.
Officials at Inter-Mark say the agreement signed Thursday by a federal judge shows they were running a legitimate business. Authorities wouldn’t go that far, but say they didn’t want employees to be deprived of their money.
The money will go to about 75,000 worldwide Inter-Mark salespeople. Some could get up to $200,000, others just $10. The company is an Internet-based, marketing firm.
No one has been charged in connection with the raid by FBI and U.S. Secret Service agents. Inter-Mark’s former owner, Steven Renner, is in prison for a separate case of tax evasion.