Petters Ponzi Partner To Pay $41M After Judge Balks On Total

Law360, New York (October 09, 2013, 1:39 PM ET) -- The former president of hedge fund Arrowhead Capital Management LLC, who was convicted of feeding money into Thomas Petters' $3.7 billion Ponzi scheme, must pay more than $41 million for his crimes, a Minnesota federal judge ordered Tuesday after abandoning a larger judgment.

U.S. District Judge Richard H. Kyle entered a personal money judgment of $41.1 million against James Nathan Fry for his conviction of misleading investors, steering $600 million to Petters' scheme and lying to U.S. Securities and Exchange Commission investigators and the judge ordered...
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