Wasendorf will not be released pending his sentence - KWWL - Eastern Iowa Breaking News, Weather, Closings

Wasendorf will not be released pending his sentence

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CEDAR RAPIDS (KWWL) -

An Iowa investment broker accused of fraud will not be released from jail pending his sentencing.

A federal judge in Cedar Rapids rejected Russell Wasendorf, Senior's bid Tuesday.

Wasendorf is accused of misusing $200 million in customer funds.     

The U.S. District judge said that Wasendorf failed to convince her that he lacked the incentive and means to flee if released.

Prosecutors argued that he may attempt suicide, as he did when this scandal first came to light.

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