SAN FRANCISCO/CHICAGO (Reuters) - Russell Wasendorf Jr., whose father went to prison for stealing $215 million from clients of the futures brokerage they ran together for nearly 20 years, is starting over.Full story
(Reuters) - Russell Wasendorf Sr., the former chief executive of Peregrine Financial Group, has begun serving a 50-year sentence at a high-security federal prison in Indiana for bilking $215 million from customers of the failed futures brokerage. Full story
CEDAR RAPIDS, Iowa (Reuters) - A judge on Thursday sentenced the founder of Peregrine Financial Group to 50 years in prison for looting hundreds of millions of dollars from the brokerage, saying his customers would probably never recover the money they lost. Full story
In a suicide note, PFGBest CEO Wasendorf says he turned to fraud to get access to needed capital, reports CNBC's Tyler Mathisen.
Peregrine Financial Group owner and CEO Russell R. Wasendorf, Sr and his attorney Jane Kelly during Wasendorf's sentencing at the US District Courthouse in Cedar Rapids, Iowa, January 31, 2013. A U.S. judge on Thursday sentenced Wasendorf to 50 years in prison for looting hundreds of millions of do
Special Agent In-Charge of the Omaha Division of the FBI Thomas Metz speaks to the media during a news conference to discuss the sentencing of Peregrine Financial Group owner and CEO Russell R. Wasendorf, Sr at the US District Courthouse in Cedar Rapids, Iowa January 31, 2013. A U.S. judge on Thursd
Assistant United States Attorney Peter Deegan speaks to the media during a news conference to discuss the sentencing of Peregrine Financial Group owner and CEO Russell R. Wasendorf, Sr at the US District Courthouse in Cedar Rapids, Iowa January 31, 2013. A U.S. judge on Thursday sentenced Wasendorf
Peregrine Financial Group's former Chief Executive Russell Wasendorf Sr. wears an anti-suicide tunic following his arrest on charges of lying to federal regulators in Cedar Falls, Iowa July 2012 in this handout photo provided by Linn County Jail. Wasendorf, who admitted looting more than $100 millio
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