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RUSSELL WASENDORF SR - CASE- STATEMENT - Peregrine Financial

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Published on Jul 15, 2012

A portion of the statement written by Mr. Wasendorf Sr. concerning his financial practices entered by FBI in court filing.last Friday The note was found in his car .. . Mr, Wasendorf has a preliminary hearing on Wednesday - he will probably seek release on bail - He has stated that others did not know of his financial activities. He is on anti depressants at present time it seems. Approximately 100 million plus is missing. The million dollar Wasendorf home in Iowa is protected from creditors due to Iowa bankruptcy laws. Seems the company has filed for bankruptcy protection. Another home on a golf course in Florida - may be involved in what is called "clawback" - i do think that Florida law protects ownership of homes with owners in financial difficulty. The bail in case like this would not be unusual - Madoff was released on bail and confined to his apartment with one of those monitor bracelets.Here is latest - bail hearing etc. is moved to next week - 27th it seems - reason is that the high priced powerful attorney he was preparing to handle case is not taking it becaused government has seized all of Wasendorf funds - so he now has a public defender - but she needs a week to review case and get up to speed on it. I am certain bail will be granted. LATEST - July 26 - seems his lawyer is waiving right to a detention hearing which was scheduled for July 27 - perhaps his lawyer received word bail would not immediately be granted - just a guess i have no info -- his firm still owns the jet plane which is for sale - i do not think a date has been set for a new detention hearing

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