January 31, 2013
Ex-Peregrine CEO Sentenced to 50 Years for Stealing Customers' Money
Russell Wasendorf Sr., the disgraced CEO of collapsed commodities firm Peregrine Financial Group, was sentenced to 50 years in prison for embezzling more than $215 million from his customers. Wasendorf attempted suicide and left a note confessing his crime last summer. The judge ignored requests for leniency and followed the government's recommendation.
NYTimes Dealbook, Ex-Peregrine Chief Sentenced to 50 Years in Prison
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