Complex sentence: Tom Petters, CEO of Petters Group Worldwiode and a friend of Valhos, was a minority stake holder with 16% the company who was arrested in late 2007 by federal officials on charges he was running a US $3 billion Ponzi scheme.
Split into simpler sentences: Tom Petters, the CEO of Petters Group Worldwide and a friend of Valhos, was a minority stake holder with 16% of the company. He was arrested in late 2007 by federal officials on charges he was running a US $3 billion Ponzi scheme.