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SENTENCING DATE: Wasendorf Faces Judge

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The former CEO of Peregrine Financial will be sentenced Thursday.

Russell Wasendorf Sr. faces up to 50 years in prison for embezzling $200 million from customer funds and making false income statements.

Wasendorf’s court appearance is scheduled for 9 a.m. at the federal courthouse in Cedar Rapids.

He has been behind bars since he plead guilty to the charges in September of 2012.

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