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By Linda Sandler, Bloomberg |
July 12, 2012
Customers’ claims on PFGBest, whose founder is accused by regulators of misappropriating more than $200 million, may fetch less than a quarter of their value in the wake of the firm’s bankruptcy.
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By Daniel P. Collins |
July 12, 2012
Still reeling from the debacle of MF Global, the futures industry now is dealing with potential fallout after learning that Russell Wasendorf Sr. may have falsified bank records to hide PFG's failure to maintain customer segregated funds.
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By Daniel P. Collins |
July 11, 2012
PFGBest filed for Chapter 7 bankruptcy protection on Tuesday night as disturbing details of the financially troubled firm and those charged with overseeing it have been revealed.
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By Daniel P. Collins, Michael McFarlin |
July 10, 2012
The PFGBest revelation raises serious questions about the safety of the U.S. Futures industry. Now, apparently customer segregation has been violated twice in nine months.
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By Press Release |
July 10, 2012
CFTC files complaint against Peregrine Financial Group, Inc. and Russell R. Wasendorf, Sr. alleging fraud, misappropriation of customer funds, violation of customer fund segregation laws and making false statements.
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By Michael McFarlin & Daniel P. Collins |
July 9, 2012
As part of the notice placing PFGBest in liquidation-only status, the NFA detailed that customer segregated funds at the FCM may be underfunded by as much as $220 million.
