Peregrine CEO's Ex-Wife To Pay $2.9M To Settle Trustee Suit

Law360, New York (March 19, 2014, 10:05 PM EDT) -- The ex-wife of jailed Peregrine Financial Group Inc. CEO Russell Wasendorf Sr. agreed Monday to pay $2.85 million to settle a suit brought by the firm's bankruptcy trustee that sought to claw back funds she allegedly received from her former spouse out of company accounts.

Under the deal with PFG's Chapter 7 trustee, Connie J. Wasendorf will return $2.85 million and receive a reduced claim of just more than $700,000 against the firm's estate, according to a settlement motion filed in Illinois bankruptcy court.

Chapter 7 trustee Ira Bodenstein originally aimed to recover nearly $3.5 million in allegedly fraudulent and avoidable...

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