Wasendorf's sentence: 50 years, $215.5M in restitution

U.S. District Judge Linda Reade sentenced Russell Wasendorf Sr., founder and former CEO of Peregrine Financial Group, to 50 years in prison for stealing hundreds of millions of dollars from clients. The sentence is the maximum allowed by law. Wasendorf was also ordered to pay $215.5 million in restitution.

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