Supreme Court ruling means Tom Petters is still a fraudster

The Supreme Court won't review Tom Petters' conviction, according to a document released by the court.

Petters asked the court to review his 2009 conviction for running a $3.65 billion dollar Ponzi scheme. He appealed the conviction on the grounds that lower courts inappropriately barred Petters' attorneys from mentioning a prosecution witness' criminal record.

Petters claims he was set up by Larry Reynolds, a co-worker Petters claims was the true architect of the Ponzi fraud.

Petters' legal arguments mirror those he presented to Twin Cities Business editor Dale Kurschner in an exclusive profile last month.

Kurschner interviewed Petters in federal prison and shared his side of the story "for the first time," a true claim only in the sense that Petters hadn't given an interview about his crimes before.

Twin Cities Business' story drew a sharp rebuke from the United States Attorney's Office.

"Tom Petters is a fraudster," spokeswoman Jeanne Cooney told City Pages. "He didn't acquire the amount of ill-gotten gains he acquired without the benefit of a charming, seductive personality. He's not gonna stop using that personality now that he's in prison, as evidenced by this article."

Cooney added that the feds don't "re-try" cases in the media -- "Why would we? We won," she said -- and said the government stands by its prosecution.

See also:
-- Tom Petters, convicted Ponzi schemer, teaches fellow inmates business classes

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