Wednesday, 25 November 2015
Last updated 15 hours ago
Nov 24 2009 | 9:54am ET
The fate of Minnesota businessman, hedge fund manager and accused Ponzi schemer Thomas Petters is in the hands of the jury.
Deliberations began yesterday after both sides finished their closing arguments in St. Paul, Minn., federal court. Petters is accused of running a $3.5 billion investment scam and faces life in prison if convicted of all 20 charges.
Jurors deliberated for about two hours yesterday, and are to continue today.
Petters’s lawyer used his closing argument to hammer home his side’s claim that Petters was a victim of his underlings, who ran “a fraud within a fraud” without his knowledge. Prosecutors called that claim “a lie” and argued that Petters funded his “lifestyle of a corporate tycoon” entirely “with investors’ money.”
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…