According to the Chicago Tribune, even though former Peregrine CEO, Russell Wasendorf Sr., may likely never see the light of day again, the saga is far from being over. His ex-wife, Connie Wasendorf, is on the receiving end of the latest lawsuit.
Prosecutors state that Wasendorf stole approximately $215 million from clients over the 20 years that his firm was in operation. They state that he spent the money on unnecessary items such as a luxury apartment in Chicago and a private airplane. He has pleaded guilty to the crime of embezzlement and will be appearing at a sentencing hearing soon. One of the things that he allegedly spent the ill gotten funds on was his divorce. He was married to Connie Wasendorf for 24 years. The marriage came to an official end as of December 30, 2010. On December 31, 2010, Mr. Wasendorf authorized a lump sum payment to his ex-wife’s account for $2,469,692.00. According to the lawsuit, the account that was used in this transfer was supposed to be reserved for customer funds. He also allegedly misappropriated company funds by paying her approximately $20,000.00 every month in alimony for over a year.
The lawsuit is demanding that she return the $2.9 million that she has already received. The lawsuit is also asking that the additional $2.4 million that she claims is still due to her be disallowed. According to the lawsuit she has already been asked to return the money, which she has thus far refused to do.
A high asset divorce can be very frustrating. A divorce does not have to involve a lot of money to require the assistance of an experienced and aggressive Illinois bankruptcy attorney. Your attorney will ensure that all of your rights and interests are properly preserved.