UPDATE 1-Jury adjourns til Monday in Ponzi fraud case

* Petters accused of running $3.65 billion Ponzi scheme

* Faces up to life in prison if convicted

By Todd Melby

ST. PAUL, Minn., Nov 24 (Reuters) - Accused Ponzi schemer Tom Petters will wait at least six more days to learn his fate after a federal jury adjourned deliberations without reaching a verdict over whether he orchestrated a $3.65 billion fraud.

Prosecutors have accused the founder of Petters Group Worldwide Inc of using one of his companies, Petters Co, to bilk investors, who thought he was using their money to buy consumer electronics for resale to retailers such as Costco Wholesale Corp (COST.O: Quote, Profile, Research) and BJ's Wholesale Club Inc (BJ.N: Quote, Profile, Research).

The defense argued that the 52-year-old, Minnesota businessman did not know about any fraud until just before his offices were raided. It argued others, including former top executives Deanna Coleman and Bob White, who both pleaded guilty in the case, engineered the scheme.

Petters' operations once included businesses such as Polaroid Corp and Sun Country Airlines Inc, but went bankrupt last year after he was charged with 20 counts of wire fraud, mail fraud, money laundering and other charges.

If convicted on all charges, Petters faces up to life in prison.

The trial has lasted for nearly four weeks in federal court in St. Paul, Minnesota, and jurors have deliberated for more than nine hours over two days.