Iowa brokerage head gets 50 years for $215M theft

Associated Press
Iowa brokerage head gets 50 years for $215M theft

FILE - This Monday, April 4, 2011 file photo shows Russ Wasendorf, Sr., CEO of failed Peregrine Financial Group, Inc. in Cedar Rapids, Iowa. Wasendorf is expected to be sentenced Thursday, Jan. 31, 2013 to prison for embezzling up to $215 million in funds that were supposed to be held separately to protect investors. (AP Photo/Waterloo Courier, Rick Chase, File)

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