Peregrine boss to stay in jail

Pere

Peregrine Financial group chief executive Russell Wasendorf Sr, who has confessed to swindling customers of his futures brokerage out of more than $100m, is set to stay in jail after prosecutors objected to a plan to release him yesterday, according to a court order. Wasendorf, 64, was expected to be released from an Iowa jail after he pleaded guilty to lying to regulators, mail fraud and embezzling customer money. A judge said last week that Wasendorf's chances to flee were limited as he had surrendered his passport and assets to authorities.