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USA v. Vennes et al

  1. June 10, 2020

    Petters Ponzi Conspirator Too Healthy For COVID-19 Release

    A co-conspirator in Thomas Petters' $3.7 billion Ponzi scheme must remain in prison despite coronavirus fears after a Minnesota federal judge ruled Tuesday that his health is stable and that he still "poses a risk to the community."

  2. November 05, 2014

    Gov't Stands By Faegre Atty In Petters Ponzi Plea Deal Row

    Federal prosecutors on Tuesday said "buyer's remorse" is the real reason a convicted co-conspirator in Thomas Petters' $3.7 billion Ponzi scheme wants to renege on his plea deal, not because a Faegre Baker Daniels LLP partner or the government misrepresented the deal as the defendant now claims.

  3. October 18, 2013

    2nd Petters Ponzi Collaborator Gets 15 Years For Fundraising

    A Minnesota federal judge on Friday sentenced the fundraiser responsible for luring investors into Thomas Petters' $3.7 billion Ponzi scheme to 15 years in prison, putting away the second Petters collaborator this month.

  4. October 11, 2013

    Petters Partner Gets 17.5 Years For Ponzi Scheme

    A Minnesota federal judge sentenced the former president of hedge fund Arrowhead Capital Management LLC to 17.5 years in prison for wire fraud, securities fraud and lying to the U.S. Securities and Exchange Commission in Thomas Petters' $3.7 billion Ponzi scheme, according to an order signed Friday.

  5. October 09, 2013

    Petters Ponzi Partner To Pay $41M After Judge Balks On Total

    The former president of hedge fund Arrowhead Capital Management LLC, who was convicted of feeding money into Thomas Petters' $3.7 billion Ponzi scheme, must pay more than $41 million for his crimes, a Minnesota federal judge ordered Tuesday after abandoning a larger judgment.

  6. August 16, 2013

    US Urges Maximum For Feeder To $3.7B Petters Scheme

    Prosecutors urged a Minnesota federal judge Thursday to sentence a key feeder of a $3.7 billion Ponzi scheme to 15 years in prison, the statutory maximum for the fraud and money laundering charges connected to bogus notes issued from now-bankrupt venture capital firm Petters Co. Inc.

  7. June 13, 2013

    Jury Convicts Feeder Of $3.7B Petters Ponzi Scheme

    A Minnesota federal jury on Wednesday convicted the former president of hedge fund Arrowhead Capital Management LLC on charges he intentionally misled investors while channeling funds into convicted fraudster Thomas Petters' $3.7 billion Ponzi scheme, then lied to U.S. Securities and Exchange Commission investigators.

  8. February 01, 2013

    Petters Fundraiser Cops To Role In Ponzi Scheme

    A fundraiser for the now-bankrupt venture capital firm Petters Co. Inc. pled guilty Friday to fraud and money laundering for his alleged role in convicted fraudster Thomas J. Petters' $3.7 billion Ponzi scheme.

  9. May 15, 2012

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

    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.

  10. February 14, 2012

    Petters Cohort May Duck Lying Charges In $3.7B Ponzi Case

    A magistrate judge on Monday recommended that a Minnesota federal court dismiss criminal charges accusing a former executive of hedge fund Arrowhead Capital Management LLC of lying to securities regulators during their investigation of Thomas J. Petters' $3.7 billion Ponzi scheme.

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