By Alexandra Alper
WASHINGTON, July 10 (Reuters) — The U.S. Commodity Futures Trading Commission said on Tuesday it filed a complaint against futures broker Peregrine Financial Group Inc. and its owner, alleging fraud and misappropriation of customer funds.
The complaint, filed in the Northern District Court of Illinois says Peregrine and its owner, Russell Wasendorf, violated customer fund segregation laws and made false statements in financial statements filed with the commission.
PFGBest, a 20-year old broker of foreign exchange and commodity futures, on Monday told customers their accounts had been frozen after an apparent suicide attempt by its chairman. A few hours later, an industry body said about $220 million in customer funds were not in the brokerage’s bank accounts.
The CFTC seeks a restraining order to freeze assets, appoint a receiver and preserve records. It also seeks restitution and civil monetary penalties.
Reuters, 07/10/12 11:27
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By Diksha Madhok NEW DELHI, July 9 (Reuters) — The Indian government has bought thousands o f letters, papers ...
