Peregrine Financial Group founder and chief executive Russell Wasendorf Sr. was indicted on charges of lying to regulators, a little over a month after he attempted suicide and confessed to bilking customers of his brokerage for years, Reuters reported yesterday. Wasendorf "overstated the value of PFG's customer segregated funds by at least tens of millions of dollars" to the Commodity Futures Exchange Commission, according to the indictment, filed in federal court in Cedar Rapids, Iowa. The indictment carries a possible maximum sentence of 155 years in prison, a $7.75 million fine, and 93 years of supervised release following any imprisonment, the U.S. Attorney's office said.
