Severe thunderstorm and tornado warnings issued for Twin Cities metro area

MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all. 

Turn Up Your Support

Prosecutors say Minnesota businessman Tom Petters could spend the rest of his life in prison, after a jury found him guilty of running a $3.5 billion Ponzi scheme. 

Petters claims his employees cheated investors and falsified documents for more than a decade without his knowledge. His attorneys say they will appeal his conviction on 20 counts of fraud and conspiracy. 

Hank Shea is a former federal prosecutor. He specialized in white collar crime during most of this twenty years in the Minnesota U.S. Attorney's office. He's now a professor at the University of St. Thomas School of Law and joined Cathy Wurzer by phone.

Gallery

Crime, Law and Justice

Cathy Wurzer

Author

Prosecutors say Minnesota businessman Tom Petters could spend the rest of his life in prison, after a jury found him guilty of running a $3.5 billion Ponzi scheme.

Prosecutors say Minnesota businessman Tom Petters could spend the rest of his life in prison, after a jury found him guilty of running a 3-and-a-half billion dollar Ponzi scheme. Petters claims his employees cheated investors and falsified documents for more than a decade without his knowledge. His attorneys say they will appeal his conviction on 20 counts of fraud and conspiracy. Hank Shea is a former federal prosecutor. He specialized in white collar crime during most of this twenty years in the Minnesota U-S Attorney's office. He's now a professor at the University of St. Thomas School of Law and he joins me by phone.

Former federal prosecutor analyzes Petters verdict

Go Deeper.

Like this?