UPDATED 11:25 AM EDT, July 23, 2012
CEDAR RAPIDS, Iowa (AP) — The chief executive of an Iowa-based brokerage firm admitted in a suicide note that he carried out an elaborate fraud scheme in which he embezzled more than $100 million from customers over nearly two decades, federal investigators said Friday.
FBI agents arrested Peregrine Financial Group Inc. Russell Wasendorf Sr. on Friday and he appeared in federal court later in the day on charges that accuse him of falsifying bank records.
