Former CEO Wasendorf sentenced to 50 years
In a plea agreement in September, he pleaded guilty to charges of mail fraud, embezzlement and making false statements. 50 years is the maximum punishment for those offenses. There is no parole in the federal court system. He was sentenced by Chief Judge Linda Reade.
Prior to sentencing, former U.S. Congressman Dave Nagle of Waterloo testified on Wasendorf's behalf and urged Reade to consider Wasendorf's positive attributes, including the numerous charitable contributions he made.