Peregrine CEO's Son Boldly Blames US Bank For Father's Fraud

Law360, New York (September 18, 2012, 7:10 PM EDT) -- The son of Peregrine Financial Group Inc. founder Russell Wasendorf Sr. accused U.S. Bank NA on Friday of helping his father hide a $100 million embezzlement scheme from regulators, but while his claims may have some merit, he will struggle to overcome his own role in the scandal as chief operating officer of the now-bankrupt brokerage, attorneys say.

Russell Wasendorf Jr. and his wife, Amber, claim U.S. Bank deposited checks that were supposed to go to customer segregated accounts into an account solely controlled by his...
To view the full article, register now.