High Court Won't Review Ponzi Schemer's 50-Year Sentence

Law360, New York (May 15, 2012, 3:09 PM EDT) -- The U.S. Supreme Court on Monday 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.

The high court denied Petters' appeal five months after the Eighth Circuit also shot down his bid for a rehearing, which Petters had requested on the grounds that the appeals court panel's decision affirming a Minnesota federal court's suppression of certain evidence violated his Sixth Amendment rights by...
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