Petters says he spent little time with his company

ST. PAUL, Minn. — Tom Petters has grown emotional while giving testimony in his fraud trial as he talked about the murder of his son in Italy in 2004.

He says that he spent little time with his company, Petters Co. Inc., before the murder and virtually none after it. Instead, he says, he dedicated himself to charitable work.

It’s a key claim for his defense because federal prosecutors allege PCI was at the heart of a massive Ponzi scheme that cost investors $3.65 billion.

Petters contends other PCI officers carried out the fraud without his knowledge.

Petters is in the second day of testifying in his own defense in federal court in St. Paul. He’s charged with 20 counts of wire fraud, mail fraud, conspiracy and money-laundering.