Friday, 22 May 2015
Last updated 5 hours ago
Aug 21 2012 | 10:18am ET
Peregrine Financial Group founder Russell Wasendorf may have already confessed to running a $200 million fraud, but in court, he wasn't ready to make any such admission.
Wasendorf, who was arrested last month as PFG collapsed, pleaded not guilty to 31 counts of lying to regulators on Friday. Wasendorf has been held in prison since his arrest and attended the 10-minute hearing in Cedar Rapids, Iowa, federal court in an orange prison jumpsuit and in shackles. He is the only person who has been charged in the futures brokerage's failure.
Wasendorf attempted to commit suicide as his alleged fraud unraveled. Investigators found a confession apparently written and signed by Wasendorf in which he admits he "committed fraud" and "cheated," and lambasted regulators for harassing him.
The note also allegedly includes the admission that he took "more than $100 million" in client money to shore up the firm, pay fines and fees, and build PFG's new Cedar Falls, Iowa, headquarters.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…