The court has set a sentencing date for the former CEO of Peregrine Financial.
Russell Wasendorf, Sr.’s sentencing is January 31st at 9:00 a.m. in Cedar Rapids’ federal courthouse.
Wasendorf is facing up to 50 years in prison for embezzling $200 million in customer funds. He also reported false income statements at Peregrine Financial in Cedar Falls.
Wasendorf remains in prison while awaiting his sentencing hearing.