Feds appeal judge’s ruling to free CEO guilty of fraud
IOWA CITY, Iowa — Federal prosecutors on Monday appealed a judge’s order that would free a disgraced businessman while he awaits sentencing for a $200 million fraud scheme at his Iowa-based brokerage.
The U.S. Attorney’s Office in Cedar Rapids, Iowa, filed paperwork asking Chief Judge Linda Reade to keep Peregrine Financial Group CEO Russ Wasendorf Sr. detained at the Linn County jail.
Prosecutors said Wasendorf, 64, presents a risk of fleeing abroad or committing suicide before his sentencing hearing, which has not been scheduled. He is likely to face a recommended sentence of 20 years to life in prison.
The filing came hours before Wasendorf was to appear in federal court in Cedar Rapids.
Flight delays, planes stuckon tarmacs soared in July
NEW YORK — The number of long delays in July involving planes stuck on airport tarmacs was more than the previous eight months combined, the government said Monday.
Twenty eight planes were stuck on the ground at U.S. airports for more than three hours that month, the height of the summer travel season. Eighteen of those planes were operated by U.S. carriers.
• From wire dispatches and staff reports