Appeals court affirms Petters conviction, sentence
National News
A federal appeals court Friday upheld the 2009 conviction and 50-year prison sentence of Minnesota businessman Tom Petters, who was found guilty of orchestrating a $3.7 billion Ponzi scheme.
The Eighth U.S. Circuit Court of Appeals ruled that Petters got a fair trial.
A three-judge panel rejected defense claims that the U.S. District Judge Richard Kyle prevented his attorneys from presenting a complete defense by restricting their ability to question a key prosecution witness, Larry Reynolds, a convicted felon and disbarred lawyer who was in the witness protection program, about his links to organized crime.
The panel also said the judge acted properly when he rejected proposed jury instructions that would have highlighted Petters' claims that he was an unwitting participant in a fraud conceived by others, and that he acted in good faith on advice from his attorney.
It ruled that the judge did not err by denying a change in venue due to the extensive media coverage the case generated. The panel also rejected defense claims of procedural errors in Petters' sentencing.
A jury found Petters guilty of 20 counts of wire fraud, mail fraud, money laundering and conspiracy.
Related listings
-
Ark. court affirms $50M verdict for rice farmers
National News 12/08/2011The Arkansas Supreme Court on Thursday affirmed a nearly $50 million verdict for farmers who say they lost money because a company's genetically altered rice seeds contaminated the food supply and drove down crop prices. Bayer, the German conglomerat...
-
Bank of America settles mortgage suit for $315 mln
National News 12/06/2011Bank of America agreed to pay $315 million to settle claims by investors that they were misled about mortgage-backed investments sold by its Merrill Lynch unit. The settlement was disclosed in court papers filed late Monday in U.S. District Court in ...
-
Court: State prisoners count at home in redistricting
National News 12/05/2011A state court ruled Friday that prisoners must be counted among voters back in their home neighborhoods rather than in upstate prisons for the purpose of redrawing state legislative districts, a likely blow to the slim Republican majority in New York...
Chicago Business Fraud Attorney
Business Fraud can take many forms. In the broadest terms, a fraud occurs when someone intentionally deceives others for personal gain. Many times business fraud is harmful and recovery is necessary. Losing your personal or business’s assets can devastate your entire life. Contact Roth Law Groupto receive help on restoring your business to normalcy before you were victimized with fraud. Business fraud cases can involve multiple people and complicated schemes aimed at deceiving the public, auditors, investigators, or others. Whether you are dealing with corporate fraud or commercial fraud, we can step in and fight back to receive compensation that you deserve.
At Roth Law Group we are devoted to prosecuting and defending the legal rights of individuals and small businesses, as either plaintiff or defendant. Proving fraud can be extremely difficult. To have a successful business fraud case, one must prove that the defendant purposefully set out to defraud the victim. Fraud cases are being investigated more aggressively than ever. With increasing federal regulation and scrutiny of corporate practises, many individuals and businesses find themselves the subject of business fraud investigations.