Marion Native Wasendorf Transfered to High Security Prison in Indiana

Russell Wasendorf Sr. has left Iowa.

The Associated Press reported today Wasendorf has been transferred from the Linn County Jail to a high security federal prision in Indiana. He is now incarcerated at U.S. Penitentiary in Terre Haute, with a scheduled release date of Feb. 2, 2056.

Wasendorf is the founder of Cedar Falls-based brokerage firm Peregrine Financial Group, also known as PFG. He pleaded guilty to embezzling over $200 million.

He was arrested in July after a failed suicide attempt outside the PFG office building in northern Cedar Falls. The Marion native's suicide note detailed his 20-year scheme of forging bank documents to fool authorities. He was sentenced to 50 years in prison.