Thursday, January 31, 2013
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