Friday, 22 August 2014
Last updated 12 hours ago
Sep 17 2010 | 1:13am ET
Robert White, whose forgeries helped fuel Thomas Petters’ $3.65 billion Ponzi scheme, has been sentenced to five years in prison.
White admitted he forged 10,000 documents that Petters, a Minnesota businessman and hedge fund manager, used to show investors purported consumer electronics sales backing bogus notes. At least 20 hedge funds were victimized by the scam, and at least one helped him cover up his crimes. Petters was convicted of fraud last year and sentenced to 50 years in prison.
White testified against Petters and “built up the government’s case in a major way,” U.S. District Judge Richard Kyle said. But Kyle rejected White’s bid to receive the same year-and-a-day sentence as Petters whistleblower Deanna Coleman. Still, White could have received up to 20 years in prison; with good behavior, he could be out of prison in three years.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note