The first victims to testify in the trial against three associates of Trevor Cook accused of operating a $194 million Ponzi scheme were relatively unsophisticated investors.
But the scheme also pulled in more experienced investors, like Robert Pajor, 75, the former president and one-time chief operating officer of Valspar Corp., a large, publicly traded Minneapolis-based paint company. He ultimately lost about $2.1 million investing with Jason "Bo" Beckman, he testified Monday, April 23.
Beckman, 42, is on trial with Gerald Durand, 61, and Pat Kiley, 73, in federal court in Minneapolis. They are charged with wire and mail fraud, money laundering and conspiracy. They were all associated with Cook, who pleaded guilty to fraud and tax charges two years ago and is serving a 25-year sentence.

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