Reuters: Bankruptcy News: Peregrine CEO to remain in jail as government balks at release

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Peregrine CEO to remain in jail as government balks at release Sep 17th 2012, 17:55 Sept 17 | Mon Sep 17, 2012 1:55pm EDT Sept 17 (Reuters) - Peregrine Financial Group Chief Executive Russell Wasendorf Sr., who has confessed to bilking customers of his futures brokerage out of more than $100 million, is set to stay in jail after prosecutors objected to a plan to release him on Monday, according to a court order. Wasendorf, 64, was expected to be released from an Iowa jail after pleading guilty later on Monday to lying to regulators, mail fraud and embezzling customer money. A judge said last week that Wasendorf's chances to flee were limited as he had surrendered his passport and assets to authorities. However, prosecutors on Monday objected to the plan, and another judge ruled that Wasendorf "shall remain detained pending further order of the court."

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions