Petters files appeal of fraud conviction and sentence
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
Former business tycoon Tom Petters has formally appealed his conviction -- and 50-year prison sentence -- for leading a Ponzi scheme.
Petters has yet to file documents laying out the case for overturning his conviction. The scam cost investors more than $3.5 billion.
Petters is also asking the federal courts to pay for an attorney who'll handle his appeal. Petters says he doesn't have money to pay a lawyer.
Petters legal bills from his criminal trial total about $3 million. Insurance carried by his former company covered most of the bills. But insurance won't cover the cost of an appeal.
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.