Court sets sentencing date for Wasendorf - KWWL - Eastern Iowa Breaking News, Weather, Closings

Court sets sentencing date for Wasendorf

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CEDAR RAPIDS (KWWL) -

The federal court has set a sentencing date for Russ Wasendorf, Sr., who remains in jail on federal fraud charges.

The sentencing hearing will be January 31st, at 9:00 a.m.

Wasendorf faces up to 50 years in prison for embezzling $200,000,000 in customer funds and reporting false income statements while CEO of Peregrine Financial Group in Cedar Falls.

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