Tom Petters moved to temporary cell in Oklahoma City

Categories: Tom Petters

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Headed for the federal pen
Tom Petters is headed for the Big House. The one-time high-flying millionaire sentenced to 50 years behind bars for orchestrating a $3.7 billion Ponzi scheme is cooling his heels in the Federal Transfer Center at Will Rogers airport in Oklahoma City. Next stop is a federal penitentiary.

Petters is appealing his December conviction. Meanwhile, the latest wrinkle in the case involves former Petters partner Larry Reynolds. He provided key testimony in the prosecution's case against Petters -- and now it looks like he tried to hide some of his ill-gotten gains from the court appointed receiver. Better yet, he started squirreling away assets before the trial was even over. Stand up guy, that Reynolds.

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