Peregrine Financial Group

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Iowa CEO Pleads Guilty in $100M Fraud

Peregrine Financial boss Russell Wasendorf faces 24 years in jail

(Newser) - The CEO of Iowa's Peregrine Financial Group has pleaded guilty to fraud, including embezzling $100 million from 24,000 customers in the state over the course of 20 years. Russell Wasendorf Sr., who had been known for his generosity to universities, health care systems, and other institutions, could see... More »

Iowa Brokerage CEO Indicted in $200M Fraud Scheme

Russ Wasendorf faces up to 155 years

(Newser) - The founder of a bankrupt Iowa-based brokerage accused in a $200 million fraud scheme has been indicted on 31 counts of making false statements to regulators. A federal grand jury returned the indictment today against Peregrine Financial Group CEO Russ Wasendorf Sr. Wasendorf has been jailed since his arrest last... More »

Suicidal CEO Arrested on Fraud Charges

PFGBest founder admits embezzling, blames his ego

(Newser) - Police today arrested Russell Wasendorf Sr., the CEO of Peregrine Financial Group and its PFGBest unit, who allegedly tried to kill himself this week, the US Attorney's office announced. Wasendorf, who was charged with lying to regulators, reportedly admitted embezzling "millions of dollars." The complaint against Wasendorf... More »

Brokerage Accused of Stealing $215M

PFGBest declares bankruptcy in wake of founder's suicide attempt

(Newser) - PFGBest declared Chapter 7 bankruptcy last night, after the Commodity Futures Trading Commission filed a lawsuit accusing it of fraud, lying to regulators, and abusing customer funds. Regulators believe Russell Wasendorf, who tried to kill himself Monday, had been fabricating bank balances and forging signatures on the documents he submitted... More »

Suicide Attempt Prompts Broker Fraud Investigation

PFGBest freezes customer accounts

(Newser) - Midsize futures brokerage PFGBest has frozen its customer accounts, after its founder attempted to kill himself—and left a suicide note hinting at financial irregularities. Russell Wasendorf, a 40-year industry veteran, was found in his car outside the company's headquarters yesterday, and is currently in critical condition at a... More »

5 Stories