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Polaroid Collections: Another Ponzi Fatality?

Certainly no one expected any corner of the photo world to become entangled in the elaborate, byzantine schemes that have made headline news recently and brought down investment scammers such as the visibly non-archival Bernie Madoff. But that’s exactly what’s happened to the Polaroid Collection, which now faces a distinctly uncertain fate. It’s caught up in the international fiscal crisis — because Polaroid’s assets were purchased in 2004 by alleged Minnesota Ponzi schemer Tom Petters, presently in jail and awaiting trial on these charges in September 2009. Under these circumstances, title to ownership of the works isn’t clear; it seems likely the Petters fraud case will drag on for years, leaving the collection in limbo until it concludes. . . . […]