Petty Pleads Not Guilty

An East Texan answered to federal charges Tuesday of swindling thousands of people out of millions of dollars.

Al Petty Jr. pleaded not guilty to 78 counts of wire fraud, mail fraud, and money laundering in Federal Court in Tyler. Prosecutors say Petty ran a pyramid scheme under the name of TeleCom 2000 out of his Overton home.

If convicted, Petty could be facing well over 1000 years in jail time, and tens of millions of dollars in fines.