Thursday, July 19, 2012

Hawker 400A, N567XP: Futures-scandal boss owned jet but denies being lavish

Thank you, Rob "BizJets"!!  (Note 2nd owner listed below)
N567XP Hawker 400A delivered Sept 24 2008 Brand New
Peregrine Financial Group chief executive Russell Wasendorf Sr., who last week confessed to bilking futures customers of more than $100 million US, owned a jet and an extensive wine collection but he did not, he said in his confession, live large.

"I don't live a lavish lifestyle," Wasendorf wrote in a signed note detailing the 20-year fraud. "Although I am sure that some people will think that I do."

A copy of the confession was obtained by Reuters Wednesday.

As a court-appointed receiver in Chicago prepares to sell Wasendorf's Hawker Beechcraft jet, his $100,000 wine collection and other assets that may have been bought with stolen money, the federal court in Cedar Falls postponed Wasendorf's Wednesday bail hearing until July 27 to give him more time to work with his newly appointed lawyer.

He will remain in custody until then, a spokesman for the U.S. attorney general said.

The 64-year-old owner and founder of the failed Iowa-based brokerage was arrested last Friday, days after a botched suicide attempt, and charged with lying to government regulators.

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