CEDAR RAPIDS, Iowa (AP) — The court-appointed receiver tasked with identifying and recovering assets of a convicted Iowa investment broker says he’s almost done.
Michael Eidelman told The Des Moines Register (http://dmreg.co/100AD1E ) that his team’s work on Russell Wasendorf Sr.’s assets is winding down after 10 months.
Eidelman is trying to sell the headquarters of Peregrine Financial Group Inc., Wasendorf’s former Cedar Falls-based brokerage. Eidelman also is traveling to Romania to examine a real estate development venture.
Wasendorf was sentenced in January to 50 years in prison for misspending investor funds over a 20-year period. He is serving his sentence at a high-security federal prison in Indiana.
Most of Wasendorf’s real estate holdings and other personal belongings have been sold to help pay back his former customers.
Information from: The Des Moines Register, http://www.desmoinesregister.com