News and Press Releases

Peregrine Financial Group CEO Indicted On 31 Counts Of Making False Statements To Regulators

August 13, 2012

Contact: Peter Deegan

Russell Wasendorf, Sr., age 64, from Cedar Falls, Iowa, has been charged with making and using false statements in a matter within the jurisdiction of the government of the United States. The charges are contained in an Indictment filed today in United States District Court in Cedar Rapids.

The Indictment alleges that, on 31 occasions between about February 2010 and June 2012, Wasendorf caused false reports to be submitted to the United States Commodity Futures Trading Commission.

If convicted on all charges, Wasendorf faces a possible maximum sentence of 155 years’ imprisonment, a $7,750,000 fine, $3,100 in special assessments, and 93 years of supervised release following any imprisonment.

Wasendorf’s next appearance for an arraignment has not yet been set.

As with any criminal case, a charge is merely an accusation and a defendant is presumed innocent until and unless proven guilty.

The case is being prosecuted by Assistant United States Attorneys Peter Deegan and Matthew Cole and is being investigated by the Federal Bureau of Investigation with the assistance of the Blackhawk County Sheriff’s Office and the United States Postal Inspection Service.

Court file information is available at The case file number is CR 12-2021.



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