Peregrine CEO Wasendorf Pleads Guilty To $100 Million Fraud

By Tom Polansek and Ryan Schlader


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 that he will remain behind bars while a judge determines whether he is a flight risk.