Russell Wasendorf

(Newser) - The CEO of Iowa's Peregrine Financial Group has pleaded guilty to fraud, including embezzling $100 million from 24,000 customers in the state over the course of 20 years. Russell Wasendorf Sr., who had been known for his generosity to universities, health care systems, and other institutions, could see...

(Newser) - The founder of a bankrupt Iowa-based brokerage accused in a $200 million fraud scheme has been indicted on 31 counts of making false statements to regulators. A federal grand jury returned the indictment today against Peregrine Financial Group CEO Russ Wasendorf Sr. Wasendorf has been jailed since his arrest last...

(Newser) - Police today arrested Russell Wasendorf Sr., the CEO of Peregrine Financial Group and its PFGBest unit, who allegedly tried to kill himself this week, the US Attorney's office announced. Wasendorf, who was charged with lying to regulators, reportedly admitted embezzling "millions of dollars." The complaint against Wasendorf...

(Newser) - PFGBest declared Chapter 7 bankruptcy last night, after the Commodity Futures Trading Commission filed a lawsuit accusing it of fraud, lying to regulators, and abusing customer funds. Regulators believe Russell Wasendorf, who tried to kill himself Monday, had been fabricating bank balances and forging signatures on the documents he submitted...