The chief executive of Peregrine Financial Group Inc. was indicted Monday on 31 charges of lying to government regulators regarding the failed brokerage's operations.

Russell Wasendorf Sr. faces a maximum sentence of 155 years' imprisonment on the charges and fines of about $7.75 million, according to a statement from the U.S. Attorney's Office for the Northern District of Iowa.

Mr. Wasendorf was arrested July 13 on charges of lying to regulators following a suicide attempt on July 9 that included a confession that authorities say detailed a nearly 20-year fraud against Peregrine's customers. Regulators have estimated that about $215 million in customer money is missing.

Peregrine, which did business as PFGBest, filed for bankruptcy July 10.

No date has yet been set for Mr. Wasendorf to be arraigned on the charges, according to a statement from the U.S. Attorney's Office.