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Keyword: russellwasendorf

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  • CEO of PFGBest’s Peregrine Financial arrested, charged ($216M customer funds gone)

    07/13/2012 6:43:23 PM PDT · by STARWISE · 28 replies
    Sun Times/AP ^ | 7-13-12
    *snip* FBI agents arrested Russell Wasendorf, Sr., 64, of Cedar Falls on Friday. Federal prosecutors unsealed a criminal complaint charging the CEO of Peregrine Financial Group, Inc., with making false statements to regulators and released documents detailing a wide-ranging fraud scheme that apparently fooled colleagues, customers and regulators for years *snip* Peregrine Financial Group, which marketed itself as PFGBest with offices in Chicago, filed for bankruptcy on Tuesday, the same day federal regulators filed civil fraud charges alleging the firm falsely claimed a bank account contained more than $220 million when it actually had about $6 million. The money in...