Peregrine’s Wasendorf Pleads Guilty to Embezzlement, Fraud
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Peregrine Financial Group Inc. founder Russell Wasendorf Sr. pleaded guilty to stealing more than $100 million from the bankrupt commodities firm’s customers.
Wasendorf, 64, yesterday admitted to embezzlement, mail fraud and two counts of lying to federal regulators in an appearance before U.S. Magistrate Judge Jon Scoles in Cedar Rapids, Iowa.