Peregrine’s July 10 bankruptcy, cutting off customers’ access to their accounts, came less than a year after the failure of MF Global Holdings Ltd., whose clients are still missing money. In district court in Chicago, a receiver is finding and securing Wasendorf’s assets on request of the CFTC, which is probing the missing customer money, as is the Justice Department.
Wasendorf may have funded his personal investments with Peregrine brokerage money, the receiver has said.
In its bankruptcy petition, Cedar Falls, Iowa-based Peregrine listed more than $500 million in assets and more than $100 million in liabilities.
The criminal case is U.S. v. Wasendorf, 12-mj-131, U.S. District Court, Northern District of Iowa (Cedar Rapids). The bankruptcy case is Peregrine Financial Group Inc., 12-27488, U.S. Bankruptcy Court, Northern District of Illinois (Chicago). The regulatory case is U.S. Commodity Futures Trading Commission v. Peregrine Financial Group Inc., 12-cv-05383, U.S. District Court, Northern District of Illinois (Chicago).