Ceo, Peregrine Ceo | featured news

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.

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.

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.