Russell Wasendorf Sr., the jailed executive of collapsed brokerage Peregrine Financial Group Inc., will not be able to pocket money from any book or movie deal about his scheme to defraud clients, according to details in a plea agreement, the Wall Street Journal reported today. The plea deal, publicly disclosed by federal prosecutors yesterday, indicates Wasendorf will face up to 50 years in prison and $3.25 million in fines. The founder of Peregrine must hand over any property or assets he accrued in the commission of the crime and cooperate with any effort from government officials to reimburse victims, according to the plea deal he signed. Wasendorf agreed to not sell any property or allow others to do so.
