The Associated Press is reporting that Tom Petters is planning to appeal the Guilty conviction handed down from a jury this week. Here is an excerpt of the article, as well as a link to the full story:
MINNEAPOLIS — With Minnesota businessman Tom Petters' planning to appeal his convictions in a Ponzi scheme that cost investors more than $3.5 billion, the fight over his future and how to compensate victims of the fraud will likely drag on for years.
Petters' defense team announced Thursday it planned to appeal his conviction on 20 counts of wire fraud, mail fraud, conspiracy and money laundering. Efforts to recover money to compensate victims will likely net only pennies on the dollar, and prosecutors have not ruled out new charges against others.
“This fight is far from over as far as Mr. Petters is concerned,” attorney Jon Hopeman said Thursday. “We have not yet begun to fight.”
Read the full article here: The Associated Press: Petters plans appeal of $3.5B fraud conviction.
