Jury Gets Petters Case

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.”

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...