No Restitution For Victims Of Petters' $4B Ponzi Scheme

Law360, New York (June 3, 2010, 6:36 PM EDT) -- A federal judge has declined to order restitution for victims of convicted fraudster Thomas J. Petters, saying the government has failed to provide sufficient information to verify the accuracy of the claimed losses stemming from his $3.7 billion Ponzi scheme.

In an order Thursday, Judge Richard Kyle of the U.S. District Court for the District of Minnesota said that determining the validity of the amounts claimed by each victim on the government’s final proposed restitution list, including the dozens who have objected to the government’s calculations,...
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