Peregrine’s Wasendorf Signed Plea Deal, FBI Agent Says

September 12, 2012

Bloomberg Businessweek on September 11, 2012 released the following:

“By Andrew Harris and Tom Witosky

Russell Wasendorf Sr., the indicted founder of Peregrine Financial Group Inc., has signed a plea agreement with prosecutors in which he admits to crimes including mail fraud, an FBI agent testified.

William Langdon, the U.S. Federal Bureau of Investigation agent whose affidavit supported the original criminal complaint against Wasendorf in July, disclosed the agreement today at a detention hearing in Cedar Rapids, Iowa, federal court.

Wasendorf, who has been in custody since his arrest on July 13, was indicted last month on 31 counts of lying to U.S. regulators about how much client money his now-bankrupt commodities firm had on deposit.

He entered a plea of not guilty on Aug. 17 and hasn’t changed that plea since then. Langdon didn’t say if or when the plea agreement would be brought before the court.

U.S. Magistrate Judge Jon Scoles is presiding over today’s hearing, which he scheduled at Wasendorf’s request, according to a Sept. 7 order posted in the court’s electronic docket.

Wasendorf was arrested four days after trying to asphyxiate himself in his car outside Peregrine’s Cedar Falls, Iowa, headquarters. Langdon, in his July affidavit, said the firm’s founder had in his possession at the time of the suicide attempt a written confession that said he stole from the firm for almost 20 years.

At least $190 million in client funds is unaccounted for, Peregrine bankruptcy trustee, Ira Bodenstein, told creditors at a meeting yesterday in federal court in Chicago, where the company filed for liquidation on July 10.

The criminal case is U.S. v. Wasendorf, 12-cr-2021, U.S. District Court for the Northern District of Iowa (Cedar Rapids).”

Federal Mail Fraud Crimes – 18 U.S.C. § 1341

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Douglas McNabb – McNabb Associates, P.C.’s
Federal Criminal Defense Attorneys Videos:

Federal Crimes – Be Careful

Federal Crimes – Be Proactive

Federal Crimes – Federal Indictment

Federal Crimes – Detention Hearing

Federal Mail Fraud Crimes

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To find additional federal criminal news, please read Federal Criminal Defense Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition Defense, OFAC SDN Sanctions Removal, International Criminal Court Defense, and US Seizure of Non-Resident, Foreign-Owned Assets. Because we have experience dealing with INTERPOL, our firm understands the inter-relationship that INTERPOL’s “Red Notice” brings to this equation.

The author of this blog is Douglas C. McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.


James Byers Indicted by a Cedar Rapids Federal Grand Jury for Allegedly Distributing Child Pornography, Receiving Child Pornography, and Possessing a Computer Containing Child Pornography

October 19, 2011

The Federal Bureau of Investigation (FBI) on October 18, 2011 released the following:

“Belle Plaine Man Charged with Child Pornography Offenses

James Byers, age 56, from Belle Plaine, Iowa, has been charged with three child pornography offenses. The charges are contained in an indictment unsealed October 11, 2011, in United States District Court in Cedar Rapids. The indictment alleges that, between May 2007 and February 2009, Byers knowingly distributed child pornography, received child pornography, and possessed a computer containing child pornography.

If convicted, Byers faces a mandatory minimum sentence of five years’ imprisonment and a possible maximum sentence of 50 years’ imprisonment, $750,000 in fines, $300 in special assessments, and at least five years and up to life on supervised release following any imprisonment.

Byers appeared on October 13, 2011, for a detention hearing in federal court in Cedar Rapids and was held without bond. Byers’ next appearance for trial is set for December 12, 2011.

As with any criminal case, a charge is merely an accusation and a defendant is presumed innocent until and unless proven guilty.

This case is being prosecuted by Assistant United States Attorney Mark Tremmel and was investigated by the Federal Bureau of Investigation and the Belle Plaine Police Department.

This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the Internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, please visit http://www.projectsafechildhood.gov.

Court file information is available at https://ecf.iand.uscourts.gov/cgi-bin/login.pl. The case file number is CR 11-149.”

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Douglas McNabb – McNabb Associates, P.C.’s
Federal Criminal Defense Attorneys Videos:

Federal Crimes – Federal Indictment

Federal Crimes – Detention Hearing

————————————————————–

To find additional federal criminal news, please read Federal Crimes Watch Daily.

Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN Sanctions Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.