Petters Co-Conspirator Reynolds Gets 11 Years

Law360, New York (September 14, 2010, 6:29 PM EDT) -- A federal judge has sentenced Larry Reynolds, a conspirator in the $3.7 billion Ponzi scheme of former Polaroid Corp. investor Tom Petters, to nearly 11 years in prison for helping conceal proceeds from the fraud.

Judge Richard H. Kyle handed down the 130-month sentence to Reynolds on Tuesday in the U.S. District Court for the District of Minnesota for crimes associated with establishing a sham warehouse system designed to trick investors and insurance companies into believing Petters actually sold vast amounts of electronic goods.

Between 2002...
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