Wednesday, January 30, 2013

Death and the Iowan: Futures Fraudster expects to die in the Slammer




Russell Wasendorf Sr., who admitted looting more than $100 million from futures broker Peregrine Financial Group, expects to die behind bars even if a judge ignores prosecutors and imposes a lenient sentence at a hearing on Thursday he told Reuters.

Prosecutors say the amount Wasendorf stole was closer to $215 million and have asked a federal court in Iowa to sentence the 64-year-old to 50 years in prison for the scam that  affected tens of thousands of customers.

Wasendorf said in July that he had bilked clients over nearly 20 years, faking bank statements and lying to regulators, employees and his closest family members….

More?  Check out http://www.chicagotribune.com/business/breaking/chi-lawyer-says-peregrines-wasendorf-expects-todie-in-jail-20130130,0,7572363.story

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