PRINCESS SOFT TOYS INC

February 10, 2012:

A federal judge Wednesday sentenced the former owner of a Twin Cities toy company to five and-a-half years in prison.

67-year-old Sandra Lee Calkins pleaded guilty to defrauding a bank and 42 investors out of about $9 million. When  Calkins  owned Edina-based Princess Soft Toys, she falsified financial statements to renew a line of credit. As part of a plea deal, Calkins admitted to fleecing investors out of $7 million, said Jeanne Cooney with the U.S. Attorney's office in Minneapolis. Princess Soft Toys closed in 2010, and Connecticut-based toymaker Melissa & Doug bought the brand.


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