Global InformationRussell Wasendorf information
Russell Wasendorf, Sr. | |
|---|---|
 Booking photo of Wasendorf in 2012, wearing an anti-suicide vest | |
| Born | 1948 (age 75–76) |
| Occupation | Former chief executive of Peregrine Financial Group |
| Criminal status | In prison |
| Criminal charge | Mail fraud, Embezzlement, Making false statements to the Commodity Futures Trading Commission, Making false statements to a futures association registered under the Commodity Exchange Act[1] |
| Penalty | Sentenced to 50 years |
Russell R. Wasendorf Sr. (born 1948) is the former chairman and chief executive officer of Peregrine Financial Group, also known as PFGBEST, a futures commission merchant (commonly known as a commodity broker) that filed for bankruptcy protection in Chicago in July 2012.
He was arrested in July 2012 following a suicide attempt. In September 2012 he pleaded guilty to embezzling $215.5 million from more than 13,000 customers over the course of 20 years, among other charges. On January 31, 2013, he received a 50-year sentence for fraud.[2]
- ^ "Peregrine Financial Group CEO Sentenced to 50 Years for Fraud, Embezzlement, and Lying". United States Attorney's Office Northern District of Iowa. 19 February 2015. Retrieved 2024-03-14.
- ^ Isidore, Chris (January 31, 2013). "Ex-commodities firm chief sentenced to 50 years". CNNMoney. Retrieved January 31, 2013.