Peregrine Financial Group founder Wasendorf is the Madoff of Iowa

He’s the Midwestern Madoff. Russell Wasendorf, founder of a small town Iowa brokerage firm, Peregrine Financial Group, and a pillar of his community, admitted to stealing $100 million of customer cash over a couple of decades. Like Ponzi King Bernie Madoff, the 64-year-old Wasendorf has been committing fraud for the better part of his 32-year career to help fuel a lifestyle complete with a corporate jet, lavish homes and substantial charitable contributions. Read New York Post report here.