Minneapolis / St. Paul Business Journal staff writers
Minneapolis / St. Paul Business Journal | Thursday, December 3, 2009, 11:57am CST
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Tom Petters plans to appeal the verdict that found him guilty on all 20 counts for his role in orchestrating a $3.5 billion Ponzi scheme, the Associated Press reported Thursday.
Petters’ defense attorney, Jon Hopeman, told the AP his client’s push to win the case “is far from over.” Petters can’t officially appeal the decision until his sentencing, which is expected to occur in the next two months.
Throughout his trial, Petters maintained his innocence, saying it was his former employees and associates who committed the fraud without his knowledge.
A federal jury found him guilty Wednesday afternoon. He faces a maximum sentence of life in prison.