HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Peregrine boss Wasendorf ...
Introducing Discussionist: A new forum by the creators of DU

Thu Feb 28, 2013, 04:22 PM

Peregrine boss Wasendorf starts serving 50-year jail term

Source: Reuters

Russell Wasendorf Sr., the former chief executive of Peregrine Financial Group, has begun serving a 50-year sentence at a federal prison in Indiana for bilking $215 million from customers of the failed futures brokerage.

Wasendorf, who turned 65 on Monday, arrived on Wednesday at the U.S. Penitentiary in Terre Haute, Indiana, which was once the home of convicted former Illinois governor George Ryan, according to the Federal Bureau of Prisons.

Now known as Inmate #12191-029, Wasendorf had been locked in a county jail in Cedar Rapids, Iowa, since he confessed in July to stealing from tens of thousands of clients over a period of two decades.

A federal judge in January sentenced Wasendorf, who had tried to kill himself just before the fraud was uncovered last year, to 50 years behind bars, the maximum allowed by law.

Read more: http://www.reuters.com/article/2013/02/28/us-peregrine-wasendorf-transfer-idUSBRE91R1FB20130228



Wasendorf tried to commit suicide before the fraud was uncovered. He has been ordered to make restitution of the $215 million according to foxbusiness.com.

5 replies, 1333 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply Peregrine boss Wasendorf starts serving 50-year jail term (Original post)
TexasTowelie Feb 2013 OP
Jumpin Jack Fletch Feb 2013 #1
Stuart G Feb 2013 #2
PatrynXX Feb 2013 #3
grahamhgreen Feb 2013 #4
BobbyBoring Feb 2013 #5

Response to TexasTowelie (Original post)

Thu Feb 28, 2013, 06:16 PM

1. Kick

 

+durec

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TexasTowelie (Original post)

Thu Feb 28, 2013, 06:19 PM

2. K and R nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TexasTowelie (Original post)

Thu Feb 28, 2013, 06:31 PM

3. lucky us he lived right under out noses.

since we live in cedar falls ia. restaurant was a popular upscale spot. our Mayor sucks and I've seen the Koch Brothers construction on the other side of the bridge (the former flooded area in 2008. )

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TexasTowelie (Original post)

Thu Feb 28, 2013, 06:50 PM

4. Kick, one down 10,000 to go.....

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TexasTowelie (Original post)

Thu Feb 28, 2013, 07:09 PM

5. That's one

Next, we need fucks like Jamie Dimon and Lloyd Blankfiend to be jailed and stripped of every cent of their ill gotten gains.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread