Comment: Futures market requires reset
MF Global and Peregrine have damaged industry’s reputation and it should look at introducing an independent assessment of the security of client funds
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PFGBest scandal
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Fraud charges have been filed against Russell Wasendorf Sr and Peregrine Financial Group, the broker he founded in 1990, following the discovery of a $200m shortfall in customer accounts
Wasendorf jailed for 50 years for fraud
Peregrine’s ex-head had pleaded guilty to one count of mail fraud, one count of embezzlement of customer funds and two counts of lying to regulators
Peregrine chief faces 50 years in prison
Russell Wasendorf Sr, the former head of the futures brokerage, agrees to plead guilty to embezzlement, mail fraud, and lying to regulators
Peregrine chief pleads not guilty to lying
Russell Wasendorf Sr faces 31 counts of misleading federal regulators and if found guilty could face 155 years in prison and a $7.75m fine
Peregrine chief charged on forged accounts
Russell Wasendorf Sr indicted on 31 counts of lying to US regulators after the futures broker collapsed last month with a $215m shortfall
Regulator admits Peregrine failure
Commodity Futures Trading Commission chief says oversight structure failed to protect customers of the futures broker that collapsed last week
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Comment and analysis
Wasendorf living a life of contradictions
Peregrine Financial’s founder’s carefully sculpted image as an industry bigshot came crashing down when he attempted suicide and was then arrested
FT Alphavile: Some thought leadership from PFGBest
PFGBest was hoping to avoid becoming the next MF Global
Peregrine Financial Group
Nine months after MF Global’s collapse comes word of another disappearance, this time from a Chicago futures broker
Peregrine woes exacerbate industry gloom
The incident could motivate Washington to take a harder line in protecting customer funds, possibly by backing a new insurance fund
