The jury trying the case of hedge-fund manager James Fry went home without a verdict Tuesday on day two of deliberations. The jury will resume its work Wednesday morning.
Fry faces 12 counts of wire and securities fraud, and of making false statements to the Securities and Exchange Commission for his role as an investment manager with convicted Ponzi scheme operator Tom Petters.
Fry's trial in U.S. District Court in St. Paul lasted three weeks and one day. The jury received the case Monday afternoon after closing arguments by federal prosecutors and Fry's defense team.
Fry's attorneys contend that he believed Petters was running a legitimate electronic consumer goods business.
David Phelps • 612-673-7269
