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Russell Wasendorf Sr., the former head of bankrupt commodity firm Peregrine Financial Group, was...

Russell Wasendorf Sr., the former head of bankrupt commodity firm Peregrine Financial Group, was indicted on 31 counts of lying to regulators today. Wasendorf, who allegedly stole as much as $215M from customers over a 20-year period, was arrested in early July after attempting suicide and is facing up to 155 years in prison and a $7.8M fine.
Comments (11)
  • Stock Market Joe
    , contributor
    Comments (115) | Send Message
     
    I'm sad to say he's from my area. Good job @$$hole giving Iowa a bad name.
    13 Aug 2012, 07:43 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Are there any out there reading this that lost money from the PFGBest failure? If so, how much? I remember looking at this firm as a possible futures broker - glad I passed.
    13 Aug 2012, 07:47 PM Reply Like
  • jschroe36
    , contributor
    Comments (66) | Send Message
     
    "stole as much as $215M..." Faces $7.8M fine. Where do I sign up for that deal?
    13 Aug 2012, 07:48 PM Reply Like
  • mike mohr
    , contributor
    Comments (451) | Send Message
     
    John Corzine did the same thing and stole more but he is walking free.
    13 Aug 2012, 08:38 PM Reply Like
  • Paul Price
    , contributor
    Comments (1502) | Send Message
     
    Why did this need a Grand Jury (and all the money wasted on it)?

     

    The SOB tried to kill himself and left a note detailing his crimes.

     

    Strictly a jobs program and government money for lawyers.
    13 Aug 2012, 09:20 PM Reply Like
  • WisPokerGuy
    , contributor
    Comments (780) | Send Message
     
    Failed suicide? Another waste of space who couldn't even kill himself successfully. To future Bernie Madoff's --- if you get caught doing the crime at least have the guts to blow your brains out (or whatever) and save us the trouble of having to wade through your misdeeds in court.

     

    PS to [Paul Price] -

     

    I think somewhere in the US Constitution there is a part in they limited the ability of the police throw someone into prison for life just because they felt like it? I believe it's called "due process"?

     

    Instead of blasting public officials - the vast majority of whom do their jobs with pride and diligence - you might want to spend your time better by familiarizing yourself with how the judicial system really works. Just a suggestion.
    13 Aug 2012, 10:35 PM Reply Like
  • Paul Price
    , contributor
    Comments (1502) | Send Message
     
    I didn't say NOT to give him a trial.
    This didn't require a Grand Jury to determine that would be necessary.
    13 Aug 2012, 10:44 PM Reply Like
  • KJP712
    , contributor
    Comments (437) | Send Message
     
    This smug guy seems to believe he will live forever.So he will be 219 years old when he gets out.Madoff Junior.
    13 Aug 2012, 10:18 PM Reply Like
  • Stock Market Joe
    , contributor
    Comments (115) | Send Message
     
    What Madoff, Wasendorf, and too many others are the epitome of greed. The world would have been better if Wasendorf would have offed himself sucessfully, and the same goes with Madoff. The same people they stole money from, are the same individuals who are paying the taxes to keep them in prison for the rest of their life. Sometimes, doing a Harry Carey (harakiri/seppuku) is the best way to go.
    18 Aug 2012, 06:21 PM Reply Like
  • 1GreatCFA
    , contributor
    Comments (830) | Send Message
     
    Well 50 years it is.
    31 Jan 2013, 03:40 PM Reply Like
  • 1GreatCFA
    , contributor
    Comments (830) | Send Message
     
    Funny thing...if I can make light of this...is that in other jurisdictions he'd probably have gotten probation...or seasons tickets to see the 1976 T.B. Bucanneers.

     

    Seriously though...

     

    How do Leeson and Kervial nearly wipe out all of Euro and get just a few years in the county jail????
    31 Jan 2013, 03:47 PM Reply Like
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