Ritchie Capital Management News

A Minneapolis law firm that worked for imprisoned businessman Tom Petters has been sued by a hedge fund that is trying to recoup its losses from Petters $3.65 billion Ponzi scheme.

Ritchie Capital Management, a Chicago-based hedge fund that says it lost hundreds of millions of dollars in the Petters Ponzi scheme, is suing Petters' outside legal firm, Minneapolis-based Fredrikson & Byron.

The U.S. Supreme Court has refused to get involved in a case involving victims of Twin Cities businessman Tom Petters ' $3.65 billion Ponzi scheme.

Ritchie Capital Management, the single biggest loser in the $3.5 billion Petters Ponzi scheme, is seeking an audience with the U.S. Supreme Court.

The guilty pleas from Petters Co. Inc. and Petters Group Worldwide were a foregone conclusion Wednesday in federal court in St.