Tom Petters | |
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Born | |
Occupation | former CEO of Petters Group Worldwide |
Criminal status | Prisoner #14170-041 in United States Penitentiary, Leavenworth |
Children | One daughter, three sons |
Conviction(s) | 10 counts of wire fraud 3 counts of mail fraud 1 count of conspiracy to commit mail and wire fraud 1 count of conspiracy to commit money laundering 5 counts of money laundering[1] |
Criminal penalty | 50 years in prison[2] |
Thomas Joseph Petters is a former American businessman and chairman and CEO of Petters Group Worldwide, a company which stole over $2 billion in a Ponzi scheme. He was convicted of massive business fraud in 2009 and was imprisoned at the United States Penitentiary, Leavenworth.[3] Amid mounting criminal investigations, Petters resigned as his company's CEO on September 29, 2008.[4] He was convicted of numerous federal crimes for operating Petters Group Worldwide as a $3.65 billion Ponzi scheme[5] and received a 50-year federal sentence.