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Martin Moylan
St. Paul, Minn.

Judge sets trial date for Tom Petters

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Tom Petters
Tom Petters, former CEO of Petters Group Worldwide, will stand trial in February on fraud charges.
Photo courtesy of Petters Group Worldwide

A federal magistrate judge has set a trial date of Feb. 9, 2009, for Twin Cities businessman Tom Petters.

A federal grand jury has indicted Petters on 20 counts related to a scheme that allegedly bilked investors out of billions of dollars. Petters has maintained his innocence.

Petters' attorney says he doubts the trial date will hold because there's so much work to do to prepare his case.

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Tom Petters
Tom Petters, former CEO of Petters Group Worldwide, will stand trial in February on fraud charges.
Photo courtesy of Petters Group Worldwide