Ex-wife of Russ Wasendorf could pay more than $2 million - KWWL - Eastern Iowa Breaking News, Weather, Closings

Ex-wife of Russ Wasendorf could pay more than $2 million

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CEDAR FALLS (AP) - The ex-wife of a former Cedar Falls investment broker convicted of fraud could pay back more than $2 million under a proposed settlement deal.

Connie Wasendorf, ex-wife of Russ Wasendorf, Sr., would pay $2.85 million under a settlement motion that still needs to be approved by a judge, the Des Moines Register reports.

The settlement is part of attorneys' efforts to retrieve some of the $200 million in investor funds that Russ Wasendorf was accused of misspending over a 20-year period through his former Cedar Falls company.

Wasendorf is currently serving a 50-year federal prison term in Indiana for various charges, including embezzlement of customer funds and mail fraud.

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