Peregrine CEO's Ex-Wife Got $2.5M In False Funds: Trustee

Law360, New York (January 28, 2013, 1:07 PM EST) -- The bankruptcy trustee charged with liquidating Peregrine Financial Group Inc. filed an adversary complaint in Illinois federal court Friday against the ex-wife of the firm’s imprisoned former CEO, saying she fraudulently received more than $2.5 million in company funds as part of the couple’s divorce agreement.

Chapter 7 trustee Ira Bodenstein claims that Russell Wasendorf Sr. fraudulently transferred more than $2.5 million from Peregrine’s books to his wife, defendant Connie J. Wasendorf, after their divorce in 2010. Bodenstein said that the payments were falsely classified as...
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