A former Minnesota businessman currently serving a fifty-year prison term for masterminding the third-largest Ponzi scheme in history has filed yet another motion seeking a reduction in his sentence - this time enlisting the assistance of a "jailhouse lawyer" currently serving time for drug-related charges. The latest motion filed by Thomas Petters, who was convicted of a $3.65 billion Ponzi scheme back in December 2009, seeks to renew his recently-denied attempt to have his sentence reduced and to recuse the presiding judge. However, the fate of Petters' latest effort may be in jeopardy - the very lawyer that represented Petters in his previous attempt has observed that the subsequent order was not appealable.
In a ruling issued last month, Judge Kyle rejected Petters' claims in ruling that he received "constitutionally effective counsel and his sentence was not unlawful." Judge Kyle discounted Petters' version of events, calling it his "final con," and denied the motion.
The latest motion regurgitates the argument that Petters was not provided with the formal plea offer made by federal authorities. The motion also claims Petters was not allowed to submit a plea of "nolo contendere," also known as a no contest plea, which does not admit guilt but which allegedly would still have allowed Petters to enter into a plea agreement.