Peregrine CEO Pleads Not Guilty

The CEO of failed futures brokerage firm Peregrine Financial Group pleaded not guilty on Friday to charges of lying to federal regulators. Russell Wassendorf Sr. was arrested last month after a suicide attempt put him in the hospital. His firm filed for bankruptcy protection on July 10, after Wassendorf's suicide note revealed that he had been stealing from customers for 20 years. He now stands accused of misappropriating more than $200 million of customers' money and has said that he misled auditors using "little more than a post-office box, laser printers, and Photoshop software.” The latest plea is likely part of an agreement with prosecutors.