8th Circ. Upholds 11 Years For Petters' Ponzi Helper

Law360, New York (August 19, 2011, 5:18 PM EDT) -- The Eighth Circuit on Thursday upheld a sentence of nearly 11 years in prison for Larry Reynolds, a businessman who profited by $9.9 million while helping Thomas J. Petters run a $3.7 billion Ponzi scheme, denying Reynolds' petition for a panel rehearing.

Reynolds, who owned Nationwide International Resources Inc., was arrested in October 2008 for helping Petters and pled guilty later that month. His testimony against Petters helped prosecutors win a conviction against the architect of the massive fraud, the appeals court noted. Reynolds had sought...
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