A judge has sentenced Peregrine Financial Group Inc. Russ Wasendorf Sr. to 50 years in prison for stealing $215 million from investors and concealing his theft for 20 years. The fraud led to the brokerage’s collapse last July.
U.S. District Judge Linda Reade said at Thursday’s sentencing hearing in Cedar Falls that Wasendorf knowingly caused “staggering losses” to investors, employees and creditors that grew larger over 20 years. ...More HERE
