Peregrine Financial Group founder and chief executive
Russell Wasendorf Sr was indicted on charges of lying to regulators, a little
over a month after he botched a suicide attempt and confessed to bilking
customers of his brokerage for years.
Wasendorf, 64, "overstated the value of PFG's customer
segregated funds by at least tens of millions of dollars" to the Commodity
Futures Exchange Commission, according to the indictment, filed in federal
court in Cedar Rapids, Iowa. The
indictment carries a possible maximum sentence of 155 years in prison, a $7.75
million fine, and 93 years of supervised release following any imprisonment,
the U.S. Attorney's office said….
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