Wednesday, 27 May 2015
Last updated 4 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…