No one trusts Tom Petters


Looks like former CEO and local millionaire Tom Petters will have to get a little more comfortable in jail. He's not going anywhere any time soon.

Chief U.S. District Judge Michael Davis ruled in his hearing today that he will stay in jail while he waits for a trial, according to the Star Tribune. Too bad, so sad.

More from the Star Tribune:

Davis ruled from the bench after a three-and-a-half hour hearing in St. Paul, during which Petters' ex-wife and current girlfriend testified on his behalf. "The defendant will remain in custody without bail pending trial," Davis said without elaboration.

During the hearing, Davis seemed skeptical about a proposal from Petters' attorney, Jon Hopeman, who suggested that his client could be confined to home or his law office and monitored with a global positioning system.

Davis called his own witness from pre-trial services to inquire about how it would work. But ultimately rejected the notion.

"It's beautiful what you're saying, but it's full of holes," Davis told Hopeman. He said Petters could easily defeat the system.