8th Circ. Denies Ponzi Schemer Petters' Rehearing Bid

Law360, New York (January 13, 2012, 10:33 PM EST) -- The Eighth Circuit on Friday denied convicted Ponzi schemer Thomas J. Petters’ request for a rehearing of his appeal after he was sentenced in April 2010 to 50 years in prison for his alleged $3.7 billion fraud.

In a single-line order, the court rejected Petters' request for rehearing en banc and rehearing by a panel.

In his Dec. 23 petition, Petters had argued against that panel’s decision affirming a Minnesota federal court’s suppression of certain evidence, which Petters had claimed violated his Sixth Amendment rights by...
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