Peregrine CEO Set To Leave Jail After Guilty Plea

[DeSwiss]

Source: Reuters

Reuters
By Tom Polansek
CHICAGO | Thu Sep 13, 2012 6:45pm EDT

Peregrine Financial Group Chief Executive Russell Wasendorf Sr., who has confessed to stealing more than $100 million from his futures brokerage's clients, will be released from jail after he pleads guilty on Monday to mail fraud, lying to regulators and embezzling customer money, {my emphasis} according to a judge's order.

Wasendorf, 64, will stay in the home of an Iowa pastor who has counseled him in prison and socialized with him outside of jail, pending sentencing for the crimes, the order said. He will wear an electronic GPS monitoring device.

In approving Wasendorf's release, U.S. Magistrate Judge Jon Scoles said Wasendorf's chances to flee were limited as he had surrendered his passport and assets to authorities. "All of Defendant's known assets have been seized or restrained, and there is no evidence Defendant has access to any other ready assets," the order said.

Read more: http://www.reuters.com/article/2012/09/13/us-peregrine-financial-jail-idUSBRE88C1GY20120913

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- So remember kids, ''Don't Do The Crime, If You Can't Do The Time.'' You could blow a whole week or even two......

[center]Jesus makes a withdrawal......

[/center]

[Angry Dragon]

1. He should serve one year for every million

[DeSwiss]

2. He has.....

...if you're counting in ''Banker's Years.''

[rurallib]

3. crime doesn't pay

jesus, damn near everything I learned as a kid was a lie.

[Liberalynn]

6. I know. I feel the same way.

[maratmuradyan]

4. Spam deleted by Paulie (MIR Team)

[Bossy Monkey]

5. Released from jail pending sentencing

Jail is where you go while you're awaiting trial. Prison is where you go after being sentenced. Reuters writer is also confused about this. He's being released only until he gets his prison sentence.

[DeSwiss]

7. Seeing how I worked in corrections at one time.....

...I think I know the difference between a jail and a prison. Most here on DU do as well.

Nor am I confused about the difference of this citizen getting to pal around with his preacher friend, one that he socializes with, AFTER AN ADMISSION OF STEALING $100,000,000.00!!!

As opposed to someone ''accused'' of selling cannabis or cocaine being given ridiculous bonds they can hardly meet -- and/or a life sentence once they are ''found guilty'' and sentenced.

THERE AIN'T NO JUSTICE. That was my point.

- Maybe I should pitch underhanded from now on.......

[awoke_in_2003]

8. If you are homeless...

and steal $200, feel guilty about it and return it the next day,you get sentenced to 14 years. Ain't our justice system grand?