The founder of US futures broker Peregrine Financial Group has pleaded guilty to a fraud involving 24,000 customers in the US state of Iowa. The embezzlement, totalling over 100 million dollars began about 20 years ago. Russell Wasendorf Sr, who is 64, was once regarded as a noble figure who supported a range of institutions from health care to universities. He now faces at least 24 years in jail. In court, Wasendorf pleaded guilty to charges including mail fraud, embezzling customer funds and making false statements to two regulatory agencies