The bankruptcy trustee in the case has struck deals with 30 of the fraudster's former employees. The deals include some sizable settlements with former executives. The money will eventually be redistributed to victims of the multi-billion-dollar Ponzi scheme. Tom Petters is serving a 50-year sentence.

The full Eighth Circuit Court of Appeals is denying convicted Minnesota businessman Tom Petters' request to re-hear his appeal. The Pioneer Press reports Petters will now ask the U.S. Supreme Court to review his case. He was found guilty in 2009 for orchestrating a $3.5 billion Ponzi scheme. The 54-year-old is currently serving a 50-year sentence at a federal penitentiary in Kansas.

Deanna Coleman provided more details about Tom Petters' $3.5 billion Ponzi scheme during her testimony in a bankruptcy court hearing. Coleman took part in the fraud before eventually reporting it to authorities.

A federal appeals court has ruled that Minnesota businessman Tom Petters received a fair trial. He was convicted and sentenced to 50 years in prison for orchestrating a multi-billion-dollar Ponzi scheme.

Attorneys and other professionals sorting through the mess left by the collapse of the largest financial fraud in Minnesota history have collected nearly $70 million for their work, and the tab is still growing, the Star Tribune reported Monday morning.

Tom Petters' ex-fiancee, Tracy Mixon, is facing the termination of $1,879 in monthly child support and health insurance payments that she's collected for nearly four years from the convicted Minnesota businessman's seized estate. A court appointed receiver said in a U.S. District Court motion Tuesday that Mixon has had enough time to find other means to support herself and the two children she had with Petters.

Frank Vennes and James Fry will go to trial in February after pleading not guilty to a total of 31 criminal counts, the Pioneer Press reports. The charges include wire fraud, money laundering and making false statements. Both men are accused of helping convicted Twin Cities businessman Tom Petters carry out his $3.5 billion Ponzi scheme.