Wasendorf Sr. rose from little to highflying fraud

09/25/2012 | Reuters

The story of Peregrine Financial Group founder and CEO Russell Wasendorf Sr. starts in a small Iowa town, runs through hundreds of millions of customer dollars and a simply conceived deception based on a post office box. The story ends with Wasendorf's attempted suicide, guilty pleas to mail fraud and embezzlement and a possible sentence of 50 years in prison.

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