Friday, March 1, 2013
Russell Wasendorf Sr. is the founder of Cedar Falls-based brokerage firm Peregrine Financial Group. He pleaded guilty to embezzling over $200 million.
Russell Wasendorf Sr. has left Iowa. The Associated Press reported today Wasendorf has been transferred from the Linn County Jail to a high security federal prision in Indiana. He is now incarcerated at U.S. Penitentiary in Terre Haute, with a scheduled release date of Feb. 2, 2056. Wasendorf is the founder of Cedar Falls-based brokerage firm Peregrine Financial Group. He pleaded guilty to embezzling over $200 million. He was arrested in July after a failed suicide attempt outside the PFG office building in northern Cedar Falls. The Marion native's suicide note detailed his 20-year scheme of forging bank documents to fool authorities. He was sentenced to 50 years in prison.
Wednesday, February 6, 2013
A couple bought Russell Wasendorf Sr.'s estate was today, and bids have come in on the jailed Peregrine Financial Group founder's shuttered restaurant, myVerona.
A retired couple from Iowa has purchased Russell Wasendorf Sr.'s Cedar Falls estate. Ken and Linda Alberts have purchased the Peregrine Financial Group founder's former home. The 3,753,-square-foot house sits of 20 acres of land just north of town and includes a wine cellar, carriage house, woodworking shop and indoor pool with a retractable glass-paneled roof. Wasendorf, meanwhile, has been sentenced to 50 years in prison on charges he embezzled $215 million of his customer's money and lied to authorities for 20 years while he was CEO of the Cedar Falls-based international brokerage firm. The property was originally listed at $750,000, and the couple paid close to the reduced asking price of $595,000, KWWL reported. According to the …
Thursday, January 31, 2013
Russell Wasendorf Sr., the former CEO of Peregrine Financial Group, was sentenced to 50 years in prison Thursday.
Judge Linda Reade sentenced Russell Wasendorf Sr., the former CEO of Peregrine Financial Group, to 50 years in prison Thursday, the Des Moines Register reports. That is the maximum sentence possible for Wasendorf, 64, who was charged with lying to federal authorities and embezzling over $200 million through falsified bank documents over a 20 year period. Wasendorf was arrested after attempting suicide outside the PFG headquarters in Cedar Falls in July. His suicide note detailed his two decades of fraud. Before his arrest, Wasendorf was considered an exemplory citizen, well known for his philanthropy and community engagement. With his international brokerage firm in bankruptcy, authorities will next determine how much each of his 13,000 …
Wednesday, December 5, 2012
Thousands of bottles of wine, a 1957 Ford Thunderbird, home furnishings and restaurant equipment from myVerona are among the items to be auctioned on Wednesday.
The sale of the property of Russell Wasendorf Sr. and his now bankrupt company Peregrine Financial Group (PFG) has begun. Wasendorf is awaiting trial on charges he embezzled over $200 million using falsified bank records. The auction is an attempt to recoup some of PFG's creditor's losses. The bidding on everything from Wasendorf's clothes to the computers formerly used by his employees to over 3000 bottles of wine began at 10 a.m. The in-person auction is taking place at PFG's corporate office, One Peregrine Way, Cedar Falls. The auction is also online - to view without bidding, go to this website and click "log in as viewer." Want to know what all is for sale? Read the list.
Tuesday, December 4, 2012
Thousands of bottles of wine, a 1957 Ford Thunderbird, home furnishings and restaurant equipment from myVerona are among the items to be auctioned on Wednesday.
Over 3000 bottles of wine, several cars, office furnishings, computers, restaurant equipment, photography equipment and the personal home furnishings of Russell Wasendorf Sr. are just a few of the items that will go to the auction block Wednesday. Wasendorf, the founder of the now defunct Peregrine Financial Group, also known as PFG, is awaiting trial on charges he embezzled over $200 million using falsified bank records. PFG's state-of-the-art Cedar Falls headquarters and Wasendorf's popular myVerona restaurant now stand empty, and after tomorrow, they will be even more so, as virtually everything inside, along with everything inside Wasendorf's home and other properties, goes up for sale in an attempt to recoup some of PFG's creditor's …
Wednesday, October 10, 2012
Wasendorf was to be released pending sentencing, but on Tuesday a judge ruled he may be a flight risk.
Russell Wasendorf Sr., who pleaded guilty to embezzling over $200 million and lying to authorities, will not be released pending sentencing as his lawyer had hoped. Wasendorf, the founder of Cedar Falls-based brokerage firm Peregrine Financial Group, also known as PFG, was to be released to the custody of a pastor in Marion. However, prosecutors challenged the decision, and U.S. District Judge Linda Reade agreed his lawyer failed to prove he wasn't a flight risk, the Cedar Rapids Gazette reported. Wasendorf's alleged fraud was discovered when he attempted suicide outside the PFG headquarters in July. PFG has since gone into bankruptcy.
Tuesday, September 18, 2012
Russell Wasendorf Sr., the CEO of Peregrine Financial Group, will not yet be released from jail as he awaits sentencing.
Russell Wasendorf Sr., the CEO of Peregrine Financial Group, will not be released from jail as he had hoped, at least not yet. Wasendorf pleaded guilty Monday to four charges relating to lying to authorities and embezzling over $200 million from his company's bank account. He was charged on 31 counts. U.S. Magistrate Jon Scoles ruled last week Wasendorf could be released to the Marion home of Pastor Linda Livingston while awaiting sentencing. On Monday, however, U.S. District Chief Judge Linda Reade partially granted prosecutors' appeal of his release, pending further ruling from the court, KCRG reported. So, Wasendorf will stay in jail, for now. Wasendorf was arrested after attempting suicide outside PFG's Cedar Falls headquarters in …
Thursday, September 13, 2012
A judge ruled Wasendorf can be released after he pleas guilty on Monday.
Russell Wasendorf Sr. the CEO of Peregrine Financial Group, can be released while he awaits sentencing, a judge decided on Thursday. U.S. Magistrate Jon Scoles said Wasendorf could leave the Linn County jail after entering a guilty plea. The plea hearing is scheduled for Monday. Wasendorf was arrested after attempting suicide outside PFG's Cedar Falls headquarters in July. His suicide note reportedly led investigators to discover over $200 million were missing from a company bank account. Wasendorf is facing 31 counts related to lying to authorities. The judge said prosecutors could challenge Wasendorf's release. The Waterloo-Cedar Falls Courier reported on the judge's decision: Wasendorf’s attorney, Public Defender Jane Kelly, argued that…
Tuesday, September 11, 2012
Russell Wasendorf Sr., the CEO of Peregrine Financial Group, PFG, is in federal prison on charges of lying to investigators.
Federal prosecutors said Russell Wasendorf Sr., the CEO of Peregrine Financial Group, also known as PFG, will sign a plea deal, the Associated Press reported Tuesday. Prosecutors said Wasendorf will admit guilt to mail fraud, embezzling customer funds and two counts of making false statements to regulators and will be sentenced up to 50 years in prison, which is the maximum penalty. Wasendorf was arrested in July after trying to commit suicide outside of PFG's Cedar Falls headquarters. His suicide note allegedly led investigators to over $200 million missing from the company's bank account. PFG is now in bankruptcy. Wasendorf was charged with 31 counts related to lying to authorities. He previously pled not guilty.
Monday, September 10, 2012
Peregrine Financial Group, also known as PFG, is in bankruptcy, but some of its assets appear to be missing. Among them? Some very valuable coins in honor of an animated yellow sponge.
CEDAR FALLS, IA -- What do SpongeBob SquarePants and over $200 million dollars have in common? They're both reportedly missing from Peregrine Financial Group. The Cedar Falls-based international brokerage firm, also known as PFG, went bankrupt in July after CEO Russell Wasendorf Sr. was arrested on numerous counts of fraud. Wasendorf tried to commit suicide July 9 outside the building's multimillion dollar campus. His suicide note allegedly led investigators to the missing millions, and he is in federal prison awaiting trial on charges of lying to authorities. When the FBI searched PFG's headquarters, they seized about $375,000 in SpongeBob coins, based on a retail price of $259 per set. Read more Iowa news: Woman Banned from Walmart …
Robin Rosenberg
11:55 am on Saturday, March 2, 2013
This guy should have been sentenced to 500 years at hard labor for all the pain and heartache he caused! more ›