Peregrine Financial Group's former chief executive, who confessed to bilking customers of his futures brokerage out of more than $100 million, will likely be sentenced in the first part of next year, the U.S. Attorney's Office said yesterday, according to a Reuters report. Peregrine Financial filed for bankruptcy on July 10, a day after then-Chief Executive Russell Wasendorf Sr. attempted suicide and confessed to stealing from customers for nearly 20 years. Wasendorf was arrested on July 13 and in September pleaded guilty to mail fraud, lying to regulators and embezzling customer funds, crimes that could send him to prison for as many as 50 years.
