Hedge Fund Manager Gets 6 Years In Petters Ponzi

Law360, New York (September 30, 2010, 4:02 PM EDT) -- A Chicago-area hedge fund manager was sentenced Tuesday to six years in prison for helping prop up a $3.7 billion Ponzi scheme led by former Polaroid Corp. investor Tom Petters when the scheme started heading south.

Judge Richard H. Kyle of the U.S. District Court for the District of Minnesota sentenced Gregory M. Bell of Highland Park, Ill., to 72 months in prison on one count of wire fraud, which he pled guilty to on Oct. 7, 2009.

In the plea agreement, Bell admitted to participating...
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