Defense attorney calls Petters a victim of ‘fraud within a fraud,’ blames others in $3.5B scam

Petters’ attorney blames others for $3.5B fraud

ST. PAUL, Minn. — The defense for Minnesota businessman Tom Petters says his client is the victim of a “fraud within a fraud” and that he is not guilty of masterminding a Ponzi scheme that cost investors more than $3.5 billion.

In closing arguments Monday, defense attorney Paul Engh (eng) urged the jury not to believe the testimony of Deanna Coleman, Bob White and Larry Reynolds, saying they conned Petters and were trying to con the jury.

Engh said the arc of Petters’ life is “consistent with innocence, optimism and generosity.”

U.S. District Judge Richard Kyle will give the jury its instructions Monday afternoon, after which jurors will begin deliberations.