Peregrine CEO Indicted Over Lies To CFTC

Law360, New York (August 13, 2012, 10:00 PM EDT) -- Peregrine Financial Group Inc. CEO Russell Wasendorf Sr. was formally indicted Monday on charges of overstating the values of the embattled firm's customer segregated funds to the U.S. Commodity Futures Trading Commission.

In a 31-count indictment filed in the Northern District of Iowa, prosecutors said Wasendorf had overstated the value of Peregrine's customer segregated funds "by at least tens of millions of dollars" in both year-end and monthly statements filed with the CFTC.

Wasendorf was arrested and charged July 13. The criminal complaint revealed the contents...
To view the full article, register now.