Russell Wasendorf Sr., Peregrine CEO, Indicted For Lying To Regulators

Disgraced CEO Could Face 155-Year Prison Sentence
FILE - This Monday, April 4, 2011 file photo shows Russ Wasendorf, Sr., CEO of Peregrine Financial Group, Inc. in Cedar Rapids, Iowa. A complaint filed Friday, July 13, 2012 in U.S. District Court in Cedar Rapids says Wasendorf, Sr., 64, made false statements to the U.S. Commodity Futures Trading Commission about the value of customer funds held by his company, Peregrine Financial Group, Inc. A press release from the U.S. Attorney's Office says Wasendorf was arrested Friday by FBI agents and is due in federal court in Cedar Rapids for an initial appearance. (AP Photo/Waterloo Courier, Rick Chase, File)
FILE - This Monday, April 4, 2011 file photo shows Russ Wasendorf, Sr., CEO of Peregrine Financial Group, Inc. in Cedar Rapids, Iowa. A complaint filed Friday, July 13, 2012 in U.S. District Court in Cedar Rapids says Wasendorf, Sr., 64, made false statements to the U.S. Commodity Futures Trading Commission about the value of customer funds held by his company, Peregrine Financial Group, Inc. A press release from the U.S. Attorney's Office says Wasendorf was arrested Friday by FBI agents and is due in federal court in Cedar Rapids for an initial appearance. (AP Photo/Waterloo Courier, Rick Chase, File)

Aug 13 (Reuters) - Peregrine Financial Group CEO Russell Wasendorf Sr. was indicted on charges of making and using false statements to regulators, the U.S. Attorney's office in Cedar Rapids, Iowa, said on Monday.

The indictment, which carries a possible maximum sentence of 155 years in prison and a $7.75 million fine, comes a little more than a month after Wasendorf confessed to bilking customers of his Cedar Falls, Iowa-based brokerage of more than $100 million over nearly 20 years.

He was arrested on July 13, five days after he attempted suicide near his company's headquarters. Peregrine Financial filed for bankruptcy on July 10.

Wasendorf is being held in a county jail and his next appearance for an arraignment has not yet been set, the U.S. Attorney's office said.

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