The big topic within the finance community this morning is the suspension of Iowa-based brokerage firm PFGBest and Chicago-based investment funds Peregrine Financial Group and Peregrine Asset Management — all controlled by online trading pioneer Russel R. Wasendorf Sr., according to Bloomberg's Matthew Leising — after regulators discovered a $200 million cash shortfall in the two latter firms' customer accounts.Hoo-boy....
At the same time, Wasendorf apparently tried to commit suicide (unsuccessfully).
The matter of the missing money sounds eerily similar to what happened last year with MF Global.
Tuesday, July 10, 2012
The PFG Cash Shortfall Crisis: Here's What We Know So Far - Business Insider
The PFG Cash Shortfall Crisis: Here's What We Know So Far - Business Insider
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