Frank Elroy Vennes Jr. is an American multimillionaire and convicted felon. In 1987, Frank Elroy Vennes Jr., was convicted on federal charges of money laundering, illegal firearm sales and cocaine distribution. In 1990, Vennes announced a religious transformation while incarcerated and became a major political contributor after his release . Vennes was the primary Ponzi scheme fundraiser for Tom Petters, who was convicted of organizing a Ponzi scheme $3.5 billion in Minnesota.