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DealBook: Ex-Peregrine Chief Sentenced to 50 Years in Prison

Russell Wasendorf Sr.

A prominent futures-industry executive, Russell Wasendorf Sr., was sentenced to 50 years in prison on Thursday for embezzling from his clients and defrauding banks over nearly two decades.

 

Son of Peregrine CEO Says Fraud Devastating

The son of the disgraced chief of Peregrine Financial said he has been personally and financially devastated by his father's fraud, which brought down the firm and left investors facing tens of millions of dollars in losses.

 

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