Ponzi schemer Petters still trying for shorter sentence

Tom Petters is still hoping to reduce his 50-year prison sentence for running a multi-billion dollar fraud.

Petters is appealing a federal judge's ruling that seemed to end the convicted Ponzi schemer's quest for a shorter sentence.

With the help of a fellow inmate who casts himself as a jailhouse lawyer, Petters is asking the U.S. District Court of Minnesota to reconsider a ruling by one of the district court judges, Richard Kyle.

Petters has also asked that Kyle now recuse himself from the case.

Last month, Kyle dismissed Petter's contention that the disgraced businessman's defense lawyers kept mum about a plea bargain offer that could have shortened Petters sentence by 20 years.

Kyle ruled the defense attorneys did disclose the offer and he also accused Petters of trying to commit one more con. The ruling said Petters could not appeal the decision without first getting permission from a federal appeals court.