Forger Gets 5 Years For Petters Ponzi Scheme

Law360, New York (September 15, 2010, 7:05 PM EDT) -- Robert White, who pled guilty to forging 10,000 documents in the $3.7 billion Ponzi scheme led by former Polaroid Corp. investor Tom Petters, was sentenced Wednesday to five years in prison.

In handing down the sentence, Judge Richard Kyle of the U.S. District Court for the District of Minnesota said he took into account mitigating arguments, including claims that a cooperating witness “betrayed” White. White could have faced more than 17 years in prison.

In addition to the sentence, Judge Kyle entered a personal money judgment...
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