Tom Petters was sentenced several months ago; to 50 years.
The parties that plead guilty - still remain out on bail.
Some were even granted the right to travel back n forth to Vegas.
Larry Reynolds playing poker (where does he get the funds?)
Now the Court says the Petters cohorts will be sentenced in August
(Catain, Coleman, White, Reynolds, Greg Bell, Katz, Wehmhoff )
Judge will sentence Petters defendants in August - Minneapolis / St. Paul Business Journal
Meanwhile Frank Vennes - has his moved to Florida and is living in a place being paid by the Receiver's plan. Vennes has not been charged because MN Senators and Congressmen - Coleman and Bachmann etc - worked with his religious projects and pushed President Bush to Pardon him. It was rumored Vennes was going to start a campaign on his raw deal - until negotiations began a few weeks back - and he has halted (for now) the publicity campaign and news stories on how he has gotten a raw deal.
Vennes - never having been charged - has his very own Federal Receiver who has seized and sold - millions upon millions of dollars in Vennes's assets including a stash of Gold and other coins.
Meanwhile - a Federal civil war of sorts is transpiring in the related issue of Scott Rothstein (involved in Petters through Discala).
The Bankruptcy Trustee's want control of the assets because there is abundant Code and provisions in the Bankruptcy Code/Rules to go after profits from Ponzi schemes. There is also abundant provisions about how creditors are to be paid.
We concur - Congress has provided an extremely thought out and equitable process based on the Code/ Rule of Law - to handle such matters.
However - the Receivers want the money - the Trustee wants the monies and the DOJ is now stating (and getting the Court's support) that Federal Forfeiture is a less costly process.
Law.com - Rothstein Prosecutors Fear Attorney Fees May Bleed Estate Dry
Trustee's and Receivers point out that forfeiture statutes toss alot of the victims to the wind.
And we have little respect for the Federal Receiver efforts - because such was created (Originally) as a measure when the IRS, FDIC, SEC etc win a case in Court to prove ownership of the assets.
What has occured however - is the Above the Law inner circle elite realize that they can abuse their authority and make their cronies rich by tyrannical over reach of the Federal Receiver process - where there are NO Code/Rules (such as the vast amount of Conflict of Interest Bankruptcy Codes/Rules) - to protect the process from bad faith intentions.
Proof of this over reach is the fact that Scott Rothstein was a Receiver - additionally his across the street competitor (Receiver Lewis Freeman) is also being seized and sold (by a Receiver he hand picked).
In the Pettes case the Judge in MN told the Federal Judge in ILL to go fly a kite. Even though the ILL case came before the MN one. Doug Kelley - the Receiver in Petters - was actually Petters Group Worldwide attorney - who became the Receiver in a clearly erroneous conflict of interest manner - who was then also made Bankruptcy Trustee.
Because so much of what Douglas Kelley is doing is contrary to common sense, Ethics/Model Rules of Conduct and Bankruptcy Code/Rules on Conflict of Interest - the MN Judge (who went to college with, worked with and is personal friends of Doug Kelley) - she created a whole new fleecing tool entitled Judicial Immunity.
The Court simply stated Douglas Kelley can never be sued or prosecuted for what he does. Judicial legislation from the Twilight Zone.
You can see more on all these issues at our website www.petters-fraud.com