Petters seeks reduced prison sentence for Ponzi scheme

  • Article by: David Phelps , Star Tribune
  • Updated: July 8, 2013 - 8:28 PM

Lawyer asked judge in Ponzi scheme to consider reducing 50-year sentence.

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getcrazyJul. 9, 13 6:13 PM

He needs to do the 50 years. The punishment fits the crime. In May a Miami man was sentenced to 32 years in prison for robbing two convenience store with a net booty totaling $1,669. Tom Petters had a ponzi scheme going at 3.65 billion and robbed many, many people and many businesses. If were going solely on the dollar amount he should probably be doing a a few thousand years in prison. I haven't done the math on that ration be cause it doesn't matter. He's not going to leave prison before he dies of old age. That's how it goes when you steal that much money.

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