Tom Petters Testifies

Tom Petters took the stand just before 3:30 p.m. Tuesday to testify in his own defense.

Petters told jurors he regrets what happened with his business, but says he didn't knowingly participate in fraud.

Petters said he put too much trust in some associates, but says he's not guilty of the 20 wire fraud, mail fraud, conspiracy and money-laundering charges against him.

Petters also apologized to his former employees and their families, to his own family and to investors who lost money in the alleged Ponzi scheme.

Attorneys for Petters say will be back on the stand Wednesday.

The defense on Tuesday also called Petters Co. Inc. accountant Sandra Indahl to testify, hoping she could bolster its claims Petters had little involvement with PCI and that Deanna Coleman, Bob White and other defendants carried out the scheme behind Petters' back.

Indahl told the federal jury in that Coleman and White would not give her access to PCI's bank statements, which she says made her job difficult.

Prosecutors say PCI was at the heart of a $3.65 billion Ponzi scheme, but Petters has said he's innocent.