High Court Won't Rule On Restitution In Petters Case

Law360, New York (June 13, 2011, 3:16 PM EDT) -- The U.S. Supreme Court refused on Monday to hear an appeal from a hedge fund seeking restitution for losses it suffered in a $3.7 billion Ponzi scheme operated by Minnesota businessman Thomas Petters.

Ritchie Special Credit Investments Ltd., which along with several other funds lost more than $165 million to Petters' scheme, had asked the high court to determine whether a sentencing court may deny restitution, typically required under the Mandatory Victim Restitution Act, largely because it believed the victims might be able to recoup their...
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