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FRAUD SCHEME: Wasendorf’s Wife To Pay Back $2.8m

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A former Iowa investment broker was convicted in an elaborate fraud scheme. Now, his ex-wife will have to pay back millions of dollars.

The Des Moines Register reports Connie Wasendorf, the ex-wife of Russell Wasendorf, will pay $2.8 million under a settlement motion if approved by a judge.

It is part of attorneys’ efforts to retrieve some of the $215 million that Russell scammed his investors out of.

Wasendorf is currently serving a 50-year federal prison term for various charges, including embezzlement of customer funds and mail fraud.

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