Trading Firm CEO: The stolen money you ask? I spent it.

Again, you can’t make this stuff up.  This d-bag was falsifying documents for almost 20 years!

From the Wall Street Journal:

The chief executive of collapsed brokerage firm Peregrine Financial Group Inc. was arrested last Friday and charged with lying to regulators, according to the U.S. Attorney’s Office.

Russell Wasendorf Sr. admitted to law enforcement authorities this week that he embezzled “millions of dollars” and forged bank statements for “nearly twenty years,” according to a court complaint released Friday.

In a signed note discovered in Wasendorf’s vehicle Monday morning — where he attempted suicide — Wasendorf said that he had used computer software, scanners and laser printers to falsify bank documents for nearly two decades, according to court documents.

Wasendorf said he spent most of the money allegedly embezzled from customers to cushion his brokerage’s capital, fund a new corporate headquarters and pay regulatory fines and fees, according to previously undisclosed parts of a suicide note and signed statement.

The note and the statement, which a person familiar with the situation said were left by Peregrine Chief Executive Russell Wasendorf Sr., blames the fraud on ‘mean spirited’ regulators that dogged his firm, saying they were looking to put firms out of business rather than protect commodities investors. The statement also said that deceiving the regulators was “relatively simple.”

READ FULL ARTICLE HERE

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