Deephaven, Minnesota, Estate of the Day

by Deidre Woollard (RSS feed)
Jan 8th 2009 at 1:02PM

Luxist reader Dan led me to this story of a fortune falling in Minnesota. Redstone American Grill founder Dean Vlahos had plans to expand his restaurant chain when he fell victim to a Ponzi scheme run by Tom Petters. According to the Star-Tribune article, Petters bilked his investors of more than $3 billion. It's tough luck for Vlahos who dreamed of having a restaurant empire and a $100 million fortune. Now he and his estranged wife, Michelle are seeking combined $33.6 million for their mansion in Deephaven, Minnesota and two others in Palm Beach, Florida. The Minnesota mansion is on Lake Minnetonka with 180+ feet of west-facing sandy lakeshore and a protected boat slip. The property includes a tennis court and an indoor pool. The home has seven bedrooms, a billiard room, wood-paneled office and a dining room with a mural scene. It is listed at $10.9 million.

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[Thanks, Dan]

Gallery: Deephaven, Minnesota

Tags: dean vlahos, DeanVlahos, deephaven, estate of the day, EstateOfTheDay, lake minnetonka, LakeMinnetonka, minnesota

Filed under: Estates

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Reader Comments (Page 1 of 1)

RC Jan 8th 2009 2:04PM

Better fix the typo: the guy with the alleged Ponzi scheme is Tom Petters, whereas Tom Peters is a reputable writer of books about business management,

jkc Jan 8th 2009 4:59PM

That's a very clever fraudulent use of Tom Peters name. While the spelling is different and the person is different, most business people know of Tom Peters. Hearing or seeing his name starts a trust assocation though it's a different person (ie first impressions). These fraudsters use every little trick.......