MINNEAPOLIS — The attorney for convicted Minnesota businessman Tom Petters says their fight is “far from over” and they plan to appeal.
Jon Hopeman said Thursday that Petters is “doing very well” despite being found guilty on Wednesday of fraud, conspiracy and money laundering.
Judge Kyle read the verdict;, guilty on all twenty counts.
Tom Petters showed no emotion as judge completed the formalities and dismissed the jury.
I arrived early to the courthouse today, but there was already a crowd of spectators lining up to watch the Government and the Tom Petters’s attorneys give their final arguments.
Each side had ninety minutes with a short rebuttal for the Government.
In closing arguments at the Tom Petters trial Monday, prosecutors emphasized Petters’ leadership role in a Ponzi scheme that defrauded investors of $3.5 billion, while the defense portrayed him as a victim of con artists.
Petters said he was too grief-stricken to be fully in charge of the business, but he also boasted about his deal-making with big merchandisers and his business trips all over the world.
Larry Reynolds, a Los Angeles man who has pleaded guilty to charges in connection with the Tom Petters fraud case, testified Monday that he laundered about $12 billion through his bank account to support Petters’ alleged multibillion dollar Ponzi scheme.
