Futures Brokerage Firm CEO Sentenced to 50 Years

The CEO, R. W. Sr., of Peregrine Financial Group in Cedar Falls, Iowa was sentenced to 50 years in prison for stealing $215 million from his investors earlier this year. R.W. admitted to stealing the funds from more 13,000 people who had invested with him. He was sentenced in federal prison to the maximum term allowed by law as well as being ordered to pay restitution to his victims. His schemes to steal money from his investors occurred over a 20 year period while his company lost millions. His schemes were accomplished through complicated maneuvers designed to hide what he was doing as well as hide the fact that his company was going under. The company eventually went bankrupt. The case was investigated by the FBI.

White collar crimes such as this one are punished according to various factors, including how much of a financial loss they involved to others, what types of methods were used to conduct the fraudulent scheme, and how many victims were involved. Other recent examples of lengthy prison sentences connected with investment fraud schemes include a 150 year sentence for the founder of Madoff Investment Securities, LLC, a 110 year sentence for the Chairman of the Board of Stanford International Bank, and a 50 year sentence to a Minnesota businessman who turned his company into a billion dollar Ponzi scheme.

White Collar Crimes Attorney in Chicago, Illinois

White collar crimes generally involve financial crimes committed by business professionals; these are nonviolent crimes involving fraud, misrepresentation, and deceit. They often involve many victims which can number into the thousands. They may be investigated and prosecuted by both state and federal law enforcement agencies. Examples of white collar crimes include investment fraud, bank fraud, insurance fraud, mortgage fraud, wire and mail fraud, credit card fraud, identity theft, tax evasion, embezzlement, and forgery.

Those accused of white collar crimes will need a skilled defense attorney. In the Chicago area, the Law Offices of R. Tamara de Silva offers experienced and aggressive legal representation. Ms. De Silva has a thorough understanding of white collar crimes and securities law and is a seasoned litigator. Because of the serious consequences to your personal and professional reputation should you be convicted, you need an attorney who will vigorously protect your rights and who will apply every legal measure to helping you achieve the best possible outcome. Contact the firm to arrange for a consultation about your case as soon as possible.