Tom Petters, convicted Ponzi schemer, teaches fellow inmates business classes

Categories: Tom Petters
Thumbnail image for pettersmugshot.jpg
The part of the class about Ponzi schemes must be awkward.
In 2009, Tom Petters was found guilty of masterminding a $3.65 billion Ponzi scheme and sentenced to 50 years in prison.

Now, according to an interview Petters gave to Twin Cities Business magazine, he teaches his fellow inmates at the prison in Leavenworth, Kansas how to make business plans.

Out of Leavenworth's 2,000 inmates, there isn't another more qualified than Petters to provide instruction about how to lawfully make money?

Said Petters: "I go to work each weekday in the education area."

Petters continues to maintain his evidence and told TC Business he's "working hard on legal research... I believe the truth will eventually set me free, so I work on strategy to get the truth out." An appeal of Petters' case was rejected by the Eighth U.S. Circuit Court late last year.

In the meantime, he's got his business classes to help him make a little spare dough. Well, maybe a lot of spare dough, if Petters' past is precedent. 'Yes, the class costs you $10, but then you can sign others up for $5 and keep the money yourself. What's that? Yeah, tell the folks you sign up that they can sign others up for $5 too.'


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1 comments
Your Mom
Your Mom

Not bad overall but you could have worded the joke better.

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