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Peregrine’s Wasendorf Sentenced to 50 Years in Prison

The Wall Street Journal is reporting today that :
Peregrine’s Wasendorf Sentenced to 50 Years in Prison. Russell Wasendorf Sr. was sentenced to the maximum 50 years in jail after admitting to orchestrating a fraud at the futures brokerage he founded and misleading regulators for almost 20 years. Mr. Wasendorf pleaded guilty last September to the fraud at Peregrine Financial Group that federal prosecutors said cost his investors around $215 million and masked a business that was never profitable.

Here are some pictures from the auction of his personal and corporate owned assets:

wasendorfbrochureFinal1115a

Peregrine Charities still has their website up.  The phone number does not work.  I assume that it has been dissolved.   I captured it in adobe as I can’t tell how long it will still be up.

(not posted – it is copyrights and permission cannot be obtained)

It is unfortunate that another financial brokerage that appeared to do much for the community is now gone and investors are out lots of money.  Certainly this is a loss for the Town of Cedar Falls, Iowa which no longer has the My Verona  Restaurant 419 Main Street; Cedar Falls, Iowa or for the beneficiaries of the Peregrine Charities.

For more information about the bankruptcy, please see bankruptcy schedules summary provided below.

peregrinestatus

peregrine.petition

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