Chief Executive Officer of Peregrine Financial Group Charged with Making False Statements to Regulators
|U.S. Attorney’s Office July 13, 2012|
Russell Wasendorf, Sr., age 64, from Cedar Falls, Iowa, has been charged with making and using false statements in a matter within the jurisdiction of the government of the United States. The charges are contained in a complaint unsealed today in United States District Court in Cedar Rapids.
The complaint alleges that, from 2010 through July 2012, Wasendorf made false statements to the United States Commodity Futures Trading Commission regarding the value of customer segregated funds held by Wasendorf’s company, Peregrine Financial Group Inc.
Wasendorf was arrested today by agents of the Federal Bureau of Investigation. His first appearance in federal court in Cedar Rapids for an initial appearance is set for today at 4:00 p.m.
As with any criminal case, a charge is merely an accusation, and a defendant is presumed innocent until and unless proven guilty.
The case is being prosecuted by Assistant United States Attorneys Peter Deegan and Matthew Cole and is being investigated by the Federal Bureau of Investigation with the assistance of the Blackhawk County Sheriff’s Office and the United States Postal Inspection Service.