Los Angeles Times - AP, 9/17/12
CEDAR RAPIDS, Iowa — Peregrine Financial Group Chief Executive Russ Wasendorf Sr. has pleaded guilty to carrying out a 20-year fraud that duped investors and transformed his image from a highly regarded businessman to one of Iowa's most notorious corporate criminals.
During a court hearing in Cedar Rapids on Monday, Wasendorf, 64, admitted to the $200-million fraud that he first confessed in a note found on him after he made an unsuccessful suicide attempt in July. He pleaded guilty to charges of mail fraud, embezzling customer funds and making false statements to two regulatory agencies.
To read the rest of this story, visit LATimes.com.
