CEDAR RAPIDS, Iowa Jan 31 Russell Wasendorf
Sr., who admitted looting more than $100 million from broker
Peregrine Financial Group in a scheme that shook confidence in
the U.S. futures industry, was sentenced to 50 years behind bars
Wasendorf was ordered to pay $215.5 million in restitution.
The sentence came six months after Wasendorf, 64, botched a
suicide attempt outside his now-defunct brokerage's $24-million
headquarters in Cedar Falls, Iowa, and confessed to bilking tens
of thousands of customers over nearly 20 years.
Prosecutors argued that Wasendorf stole more than $215
million, using little more than a rented post office box,
Photoshop and inkjet printers to fake bank statements and dupe