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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.
Peregrine Financial Group founder and CEO Russell Wasendorf Sr. was indicted on charges of lying to regulators Monday, a little over a month after his botched suicide attempt and his signed confession to bilking customers of his brokerage for years.
The Feds arrested Peregrine CEO Russell Wasendorf, Sr. who attempted suicide four days ago after his brokerage went bankrupt losing $215 million in client assets.