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Hotline, website set up for alleged Wasendorf victims

Posted on: 4:17 pm, October 16, 2012, by

Russell Wasendorf Sr

Victims of Iowa investment advisor Russell Wasendorf, Sr. can get updates on his federal court case online and by phone.

Wasendorf, former CEO of Peregrine Financial Group, was indicted August 13, 2012 on 31 counts of making false statements to the Commodity Futures Trading Commission.  He pleaded not guilty to all of the counts. 

Before the indictment, federal regulators froze customer accounts at Peregrine Financial Group because a report showed the company had $220 million less than it claimed.  The company then filed for chapter seven bankruptcy protection.

Wasendorf pleaded guilty September 17, 2012 to one count of mail fraud, one count of embezzlement of customer funds, one count of false statements to the CFTC and one count of false statements to a futures association.   The plea was part of a plea agreement between Wasendorf and the government.

The Victim Information Line for the Wasendorf case is (310) 297-3711.  Callers will get a recorded message providing updated information on the case.  Updated case information and victims’ rights details are also available online at this link:  www.justice.gov/usao/ian/VWwasendorf.html.

Chief Judge Linda Reade ordered Wasendorf to remain in jail pending sentencing. 

His sentencing date had not yet been set.