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Loan Modification

: Flipping Frenzy

Minnesota Man Sentenced to 50 Years in Federal Prison for Orchestrating $3.7 Billion Ponzi Scheme

By Ralph Roberts

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MINNEAPOLIS?Thomas Joseph Petters, age 52, of Wayzata, Minn., has been sentenced to 50 years in federal prison for orchestrating a $3.7 billion Ponzi scheme. The sentence, imposed by U.S. District Court Judge Richard H. Kyle earlier this morning in St. Paul, Minn., represents the longest term of imprisonment ever ordered in a financial fraud case [...]

Full post as published by Flipping Frenzy on April 09, 2010 (boomark / email).

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