Petters’ resentencing bid goes to judge

  • Article by: David Phelps , Star Tribune
  • Updated: November 5, 2013 - 8:29 PM

In final arguments, prosecutors focused on Petters’ lies. But his attorney said Petters showed he didn’t know all his options before his 2009 fraud trial.

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mnborn2Nov. 5, 13 8:45 PM

He should be charged with perjury and given 10 more years in prison. How many lives did this guy destroy? Where is the remorse?

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hittodeadNov. 5, 13 9:26 PM

Tom Petters didn't destroy anyone's life but his own and that of his family. The greedy investors who kept his ponzi scheme rolling were all complicit. They should have done the necessary due diligence on what they were investing in, and if they didn't understand that something generating those kinds of returns on such a flimsy business model is a scam then they deserved to get burned. Yeah, Petters is a crook, but 50 years? C'mon.

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mnborn2Nov. 5, 13 9:46 PM

Hittodead- Tom Petters didn't destroy anyone's life but his own and that of his family..... Yea, and Bernie Madoff didn't do anything wrong either.

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hittodeadNov. 5, 1311:28 PM

mnborn2: my comment doesn't state that Petters didn't do anything wrong. I'm saying that there are lots of guilty parties in his case, not the least of which are the "investors" at both the top and the bottom of his pyramid scheme who did know, or at least should have known, what was really going on there. It seems that among the Petters investors, you're either a victim who lost out, or you're one whose illegal profits are now subject to the government's "clawback" efforts, and that completely depends on when you joined the scam. I don't see much difference between the two. And I think a 50 year sentence for this guy is absurd.

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dirletonNov. 5, 1311:43 PM

"And I think a 50 year sentence for this guy is absurd." Especially when half the car dealers in town want to hire him.

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YoganaziNov. 6, 13 4:56 AM

Yes, why isn't Pettters' being charged with perjury?

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lynxstarNov. 6, 13 8:08 AM

He didn't kill anyone, and he didn't rape a child.. Should he do his time? Absoulutley.. But 50 year's.. Really?.. There are animals in prison that have killed and raped many times over doing 1/2 the time Petter's is doing.. The system's a joke!!

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pattyzanNov. 6, 13 2:33 PM

Petters may got what he deserved, but seriously, what about Zygmund Wilf?? Maybe way worse!!!!!

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