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 Peregrine Financial Group boss admits $100m fraud

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RR Phantom

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Peregrine Financial Group boss admits $100m fraud Vide
PostSubject: Peregrine Financial Group boss admits $100m fraud   Peregrine Financial Group boss admits $100m fraud Icon_minitimeMon Sep 17, 2012 10:38 pm
The founder of US futures broker Peregrine Financial Group has pleaded guilty to a fraud involving 24,000 customers in the US state of Iowa.

Peregrine Financial Group boss admits $100m fraud 614945900152926131



The embezzlement, totalling over $100m (£61.5m), began some 20 years ago.

Russell Wasendorf Sr, who is 64, was once regarded as a noble figure who supported a range of institutions from health care to universities.

He now faces at least 24 years in jail. Prosecutors said: "He has gone from being a hero... to a villain."

In court, Wasendorf pleaded guilty to charges including mail fraud, embezzling customer funds and making false statements to two regulatory agencies.

http://www.bbc.co.uk/news/business-19631611#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
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Peregrine Financial Group boss admits $100m fraud Vide
PostSubject: Re: Peregrine Financial Group boss admits $100m fraud   Peregrine Financial Group boss admits $100m fraud Icon_minitimeMon Sep 17, 2012 10:51 pm
Filthy maggot!
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