WASHINGTON - The Supreme Court has rejected an appeal from
investment funds seeking repayment of their losses in a $3.7
billion Ponzi scheme operated by Minnesota businessman Thomas
The funds together lost $165 million and challenged a federal
judge's order denying restitution to any of Petters' victims. Among
other things, the court said the victims would have other ways of
recouping some of their money.
The justices on Monday refused to disturb the ruling.
A federal law generally requires a court to order restitution as
part of a defendant's sentence, but allows for some exceptions. The
judge in this case said that restitution would be too complex, take
too long and result in the payment of less than a penny for each
dollar victims lost.
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.