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Wasendorf Disputes Amount of Alleged Embezzlement

Disgraced Peregrine Financial Group CEO Russell Wasendorf Sr. is disputing the

The saga of Peregrine Financial Group's Russell Wasendorf Sr. continued recently, with the disgraced CEO disputing the amount of money he is alleged to have bilked from investors over a period of a couple decades, according to a Wall Street Journal report.

Last week, Wasendorf pleaded

The saga of Peregrine Financial Group's Russell Wasendorf Sr. continued recently, with the disgraced CEO disputing the amount of money he is alleged to have bilked from investors over a period of a couple decades, according to a Wall Street Journal report.

Last week, Wasendorf pleaded guilty to several counts of fraud, including lying to regulators, embezzling funds and mail fraud. While Wasendorf did not dispute any of those charges, he did take issue with the government's assertion that he purloined roughly $215 million during his 20-year scam, the WSJ reported. According to a filing presented to the court by his lawyer, falsified bank statements don't necessarily correlate to the actual amount of money he stole.

Wasendorf's lawyer also challenged a few other government assertions, including one that he used the money to fund personal ventures like opening a restaurant, or that he has cash hidden away somewhere. The later claim by prosecutors served as the basis for Wasendorf being kept in custody following his guilty plea. Officials are still determining whether he presents a flight risk if released from prison pending his trial.