Tom Petters sentenced

Discussion in 'Industry News' started by AgX, Apr 9, 2010.

  1. AgX

    AgX Member

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    Tom Petters has been sentenced to 50years of imprisonmemt by US court for fraud.
     
  2. mgb74

    mgb74 Subscriber

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    Yes, but given allowance for time served and possible time off for good behavior, he may serve only 41 years.
     
  3. Jeff Kubach

    Jeff Kubach Member

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    Greed can creap on you for sure!

    Jeff
     
  4. AgX

    AgX Member

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    I am still puzzled by that verdict. Though I should not be surprised as the different national kinds of criminal justice are continuously a topic of the media over here.
     
  5. mgb74

    mgb74 Subscriber

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    What puzzles you? Too short? Too long? Sentence vs. that for a violent crime?
     
  6. AgX

    AgX Member

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    I am puzzled by the long duration. Over here fraud is a relatively mildly sentenced crime as the opponent in the transaction is participating (by letting himself being betrayed).
    You refer to violent crime: As the sentence in this case is practically already a life-long sentence, how would someone be sentenced who commited a violent crime?
     
    Last edited by a moderator: Apr 12, 2010
  7. Kirk Keyes

    Kirk Keyes Member

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    Violent crimes in the US usually get long sentences and then early parole it seems...
     
  8. mgb74

    mgb74 Subscriber

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    I'm no expert, but from what I read in the local papers the Petters sentence is a function of a few things:
    it was a long running fraud, and multiple frauds, not an isolated incident
    he did not plead guilty (kind of a catch-22)
    many people were hurt
    it's intended as a warning to others.

    Perhaps if he had been sentenced before some of the larger scandals came to light (such as Madoff) he would have gotten off a bit easier. But the public is angry.
     
  9. MattKing

    MattKing Subscriber

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    AgX:

    Arguably, the USA believes in and uses incarceration more than any other country in the world.

    I expect that it has something to do with the fact that there are two parallel systems of criminal justice (federal and state).