Post by Forever Sunshine on Sept 18, 2012 10:53:21 GMT -5
Peregrine Financial Group's former Chief Executive Russell Wasendorf Sr. pleaded guilty on Monday to embezzling more than $100 million from customers of his futures brokerage, lying to regulators to cover his tracks, and mail fraud.
Previously expected to be set free from jail pending his sentencing, Wasendorf was told he will remain behind bars while a judge determines whether he is a flight risk.
Wasendorf, 64, agreed earlier this month to plead guilty after confessing in July to stealing from his customers for nearly 20 years.
money.msn.com/business-news/article.aspx?feed=OBR&Date=20120917&ID=15566176
Previously expected to be set free from jail pending his sentencing, Wasendorf was told he will remain behind bars while a judge determines whether he is a flight risk.
Wasendorf, 64, agreed earlier this month to plead guilty after confessing in July to stealing from his customers for nearly 20 years.
money.msn.com/business-news/article.aspx?feed=OBR&Date=20120917&ID=15566176
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