Peregrine Financial Has $200 Million ‘Shortfall,’ CFTC Says
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Peregrine Financial Group Inc., a futures brokerage, has a customer fund shortfall of at least $200 million, the U.S. Commodity Futures Trading Commission claimed in a complaint filed in federal court.
“The whereabouts of the funds is currently unknown,” the regulator alleged in its filing today at the U.S. courthouse in Chicago. Also named as a defendant in the CFTC filing is firm founder Russell Wasendorf Sr., who it said attempted suicide on July 9 outside the firm’s Cedar Falls, Iowa, offices and is now comatose.