Petters sentencing in $3.65B fraud rescheduled

The sentencing date for Minnesota businessman Tom Petters has been pushed back once again, this time to April 8.

Petters was convicted in December of orchestrating a $3.65 billion Ponzi scheme. His sentence is expected to be anywhere from 30 years up to life in prison.

Monday's order from U.S. District Judge Richard Kyle marks the second delay in Petters' sentencing on 20 counts of wire fraud, mail fraud, money laundering and conspiracy. Sentencing was originally set for March 8, then rescheduled to March 15, and now April 8.

Through his attorneys, Petters has maintained his innocence and has said he plans to appeal.

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