Russ Wasendorf Sr. accused of cheating on taxes - KWWL - Eastern Iowa Breaking News, Weather, Closings

Russ Wasendorf Sr. accused of cheating on taxes

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  • Russ Wasendorf Sr. and PFG

    Russ Wasendorf Sr. and PFG

    The CEO of PFG stole more than $215 million from more than 13,000 victims and was sentenced to 50 years in federal prison. All related stories can be found here.More >>
    The CEO of PFG stole more than $215 million from more than 13,000 victims and was sentenced to 50 years in federal prison. All related stories can be found here.More >>
DES MOINES (KWWL) -

In addition to misusing $100 million that belonged to PFG investors, former PFG CEO Russ Wasendorf Senior may have also cheated the State of Iowa.

Court records show the Iowa Department of Revenue has accused Russ Wasendorf Senior and his former wife of underreporting their income and dodging millions in taxes.

Records show the department filed an assessment in November against Russ and Connie Wasendorf seeking $14.1 million dollars in unpaid taxes and penalties.

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