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Peregrine Financial Group

Disgraced CEO Sentenced To 50 Years In Prison

Reuters | Posted 04.02.2013 | Business

By P.J. Huffstutter CEDAR RAPIDS, Iowa, Jan 31 (Reuters) - Russell Wasendorf Sr., who admitted looting more than $100 ...

Disgraced CEO Facing Huge Prison Term

AP | RYAN J. FOLEY | Posted 04.02.2013 | Business

CEDAR RAPIDS, Iowa — For years, Russ Wasendorf Sr. enjoyed the perks of being a successful businessman: a corporate jet, a fancy swimming pool a...

Disgraced CEO Faces Maximum Sentence

AP | By RYAN J. FOLEY | Posted 03.24.2013 | Business

IOWA CITY, Iowa (AP) — Disgraced businessman Russ Wasendorf Sr. should receive the maximum 50-year prison sentence for a $215 million fraud that vic...

Disgraced CEO's Son: My Father Will 'Endure The Consequences Of His Actions'

Reuters | Posted 11.12.2012 | Business

* Wasendorf was arrested in July, firm is in bankruptcy * Wasendorf's lawyer asks judge to release him to pastor * Recei...

Disgraced Firm Is Missing Some SpongeBob Coins

Reuters | Posted 11.07.2012 | Business

* Bankruptcy trustee discloses missing coins, gold * Silver four-coin sets sold for $259 each * Retail value of missing ...

Disgraced CEO Could Face 155-Year Prison Sentence

Reuters | Posted 08.13.2012 | Business

Aug 13 (Reuters) - Peregrine Financial Group CEO Russell Wasendorf Sr. was indicted on charges of making and using false statements to regulators, the...

Disgraced CEO To Lose Life Insurance Plans, Private Plane

Reuters | Posted 10.06.2012 | Business

* CEO's receiver seeks to unload insurance policies, plane * One policy has cash surrender value of about $1.3 million *...

CEO Accused Of Stealing Hundreds Of Millions Had Few Flashy Possessions

Reuters | Posted 10.05.2012 | Business

By Ann Saphir CHICAGO, Aug 6 (Reuters) - The hunt for the assets of Peregrine Financial Group CEO Russell Wasendorf Sr. has yielded a...

Clients Accuse Disgraced CEO Of 'Theft'

Reuters | Posted 10.01.2012 | Business

CHICAGO, Aug 1 (Reuters) - Several customers of Peregrine Financial Group are suing the failed futures brokerage's chief executive officer, Russell ...

How Peregrine Financial Got Around A Law Designed To Prevent Corporate Fraud

Reuters | Posted 09.28.2012 | Business

By Kevin Drawbaugh and Dena Aubin July 29 (Reuters) - When Peregrine Financial collapsed earlier this month, a nagging question resurfa...

Even The 'My Sharona' Guys Piling It On Disgraced CEO

Reuters | Posted 09.26.2012 | Business

By P.J. Huffstutter CHICAGO, July 27 (Reuters) - Russell R. Wasendorf Sr., chief executive of Peregrine Financial Group, who was arres...

PFGBest CEO Likely Had 'Some Type Of Assistance,' Lawyer Says

Reuters | Posted 09.26.2012 | Business

* "Hard to envision" Peregrine CEO acted alone-son's lawyer * NFA president also raised possibility CEO had accomplice *...

Watchdog Admits Being 'Fooled' By CEO

Reuters | Posted 09.24.2012 | Business

* NFA president says auditors followed proper procedures * But says audit steps "not good enough anymore" * CFTC's Gensl...

Joe Nocera: Another Week, Another Banking Scandal

The New York Times | JOE NOCERA | Posted 07.21.2012 | Business

Is it my imagination, or does every week bring news of another financial scandal? No, it’s not my imagination. First up: Peregrine Financial Grou...

D.M. Levine

Crisis in Commodities

HuffingtonPost.com | D.M. Levine | Posted 07.20.2012 | Business

First, there was a banking crisis. Now, after the collapse of Peregrine Financial Group, commodities markets may be on the brink of their own emergenc...

Are Women More Honest Than Men When It Comes To Finance?

LearnVest | Posted 09.19.2012 | Money
LearnVest

As we applaud more and more women rising to positions of power, we wonder--would more women commit fraud if only they had the opportunity?

FBI Seizes SpongeBob Coins From Disgraced CEO

Reuters | Posted 07.19.2012 | Business

(Reuters) - Silver SpongeBob SquarePants coins minted by a private company in New Zealand were among assets seized by FBI agents from Peregrine Financ...

Watchdog Scolded For Taking Brokers At Their Word Amid 20 Year Fraud

Reuters | Posted 09.17.2012 | Business

* NFA let firms verbally pledge to do better-2002 report * CFTC report called practice troubling * Report came during mi...

Disgraced CEO May Have Bought Private Jet, Wine Collection With Stolen Money

Reuters | Posted 09.17.2012 | Business

By Ann Saphir CHICAGO, July 18 (Reuters) - Peregrine Financial Group CEO Russell Wasendorf Sr., who last week confessed to bilking fu...

PFG Customer Money Has All Been Spent: Report

The Huffington Post | Mark Gongloff | Posted 07.18.2012 | Business

Thing One: Are My Methods Unsound? See, this right here is exactly why Jamie Dimon worries that financial regulations will destroy America. Most of...

Disgraced CEO Says He Spent Most Of Embezzled Customer Money

Posted 07.17.2012 | Business

Most of Peregrine Financial Group's missing money is likely gone. CEO Russell Wasendorf Sr. allegedly spent a significant chunk of the embezzled $...

D.M. Levine

Former PFG Employee 'Was Waiting For Something Like That To Happen'

HuffingtonPost.com | D.M. Levine | Posted 07.16.2012 | Business

When Leon Bressert first heard that his former employer, Peregrine Financial Group, had collapsed amid fraud allegations, he was not surprised. “I w...

How One Watchdog Missed Blatant Fraud For 20 Years

Reuters | Posted 09.12.2012 | Business

* 20-year-fraud raises questions about NFA oversight * Sources say NFA auditors typically new college grads * NFA offici...

CEO Of Disgraced Company Faces 'Up To Decades In Prison'

Reuters | Posted 09.12.2012 | Business

CEDAR RAPIDS, Iowa July 13 (Reuters) - Russell Wasendorf Sr., the founder and CEO of failed futures brokerage PFGBest, faces "up to decades in priso...

PFGBest Scandal 'Has Some Echoes Of Madoff'

Reuters | Posted 07.12.2012 | Business

WASHINGTON/CHICAGO (Reuters) - U.S. futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting ...