My Father Is Dead To Me


Fraud, a suicide attempt and the breakdown of family ties.

Reuters reports that Russell Wasendorf Jr., whose father went to prison for stealing $215m from clients of the futures brokerage they ran together for nearly 20 years, is starting over.

The COO of Peregrine Financial Group, which collapsed in 2012 in an embezzlement scheme orchestrated by his father, has moved to Florida from the firm's home base of Cedar Falls, Iowa. He is out of the futures business entirely and has launched an e-commerce website.

In his first interview since Peregrine Financial's demise, Wasendorf Jr. told Reuters that he has rejected offers to consult on futures and currency trading, his area of focus at the firm.

'I really want to just try to move on', Wasendorf Jr. told the news agency. 'I don't have any real desire at this point to go back into that side of the business. I've been burnt awfully badly after spending 25 years of my life there'.

Last July, Peregrine Financial's founder and CEO, Russell Wasendorf Sr., botched a suicide attempt at the firm's Cedar Falls headquarters.

But before snaking a hose from the tailpipe of his car into the vehicle, he left a confession of his crimes along with a note begging his 'wonderful son' for forgiveness.

Wasendorf Jr., however, has said he can't forgiven his father.

'As far as I am concerned, he died that day', he said.

Hit the link below to access the complete Reuters article:

Peregrine Financial scion: My father is dead to me

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