Jury deliberates 4th day in Petters fraud trial

AP News
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Posted: Dec 01, 2009 6:24 PM

Jurors have completed their fourth day of deliberations without a verdict in the fraud trial of Minnesota businessman accused of operating a massive Ponzi scheme.

Jurors broke for the night Tuesday and were scheduled to resume their discussion of the charges against Petters Co. Inc. founder Tom Petters on Wednesday.

Petters is accused in a 20-count indictment of running a scheme that cost investors more than $3.5 billion. The charges include wire fraud, mail fraud, conspiracy and money laundering.

Petters claims other defendants in the case carried out the fraud without his knowledge, then testified against him in hopes of lighter sentences.