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CEO of troubled Iowa brokerage arrested, charged
Feds arrest, charge CEO of Iowa-based brokerage firm that is missing $200M in customer funds
By The Associated Press

IOWA CITY, Iowa (AP) Federal prosecutors say the chief executive officer of an Iowa-based brokerage firm that is missing more than $200 million in customer money has been charged with lying to regulators.

A complaint filed Friday in U.S. District Court in Cedar Rapids says 64-year-old Russell Wasendorf, Sr., made false statements to the U.S. Commodity Futures Trading Commission about the value of customer funds held by his company, Peregrine Financial Group, Inc.

A press release from the U.S. Attorney's Office says Wasendorf was arrested Friday by FBI agents and is due in federal court in Cedar Rapids for an initial appearance.

Wasendorf had been hospitalized at University of Iowa Hospitals and Clinics after attempting suicide outside the company's headquarters on Monday. Court records do not list an attorney for Wasendorf.

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