WASENDORF ASSETS: Attorneys Looking
According to KWWL, court documents filed Thursday not that Russel Wasendorf Sr. will be released from jail until his sentencing.
He is restricted to the home of Kurt and Linda Livingston in Marion, friends of Wasendorf and his wife Nancy Paladino.
Wasendorf is expected to change his plea to guilty on four charges at a hearing on Tuesday.
A Chicago bankruptcy law firm is tasked with figuring out how Wasendorf spent the $200-million-dollars that he embezzled from his own company.
Attorneys will comb through all of Wasendorf Sr.’s assets. That includes personal items and that of his defunct Cedar Falls brokerage firm, Peregrine Financial.
All the assets are being prepared for a two-day public auction later this fall.
The assets are likely worth millions, including three homes. One of which is Wasendorf’s main residence in Black Hawk County. It’s a sprawling estate with a security gate, lake and pool.
There’s a luxury condo in Chicago and a corporate house near PFG in Cedar Falls.
Wasendorf’s possessions include 4,000 bottles of wine, a collection of sports memorabilia and fine jewelry.
But that’s not it…
Michael Eidelman, bankruptcy attorney says, “There’s a substantial amount of assets ranging from the assets of my Verona, the restaurant equipment, all the way through his personal property, which consists of cars, there’s a boat, there’s some snowmobiles. We sold some guns pursuant to a court order.”
The courts will determine who gets what of the profits from the auction.
Wasendorf faces up to 50-years in prison.