Frank Vennes, Jr., the born-again ex-convict, who helped Tom Petters raise more than $1 billion for a fraudulent Ponzi scheme, was sentenced Friday to 15 years in prison.
Vennes was sentenced by U.S. District Judge Richard Kyle to the full amount called for in Vennes’ plea agreement with federal prosecutors, despite requests by attorneys for Vennes for a lesser sentence.
Vennes pleaded guilty to charges of aiding and abetting securities fraud and unlawful monetary activity more than a year ago.
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