CFTC Pushes For Delay In Returning $123M In Peregrine Funds

Law360, New York (September 10, 2012, 1:28 PM EDT) -- The U.S. Commodity Futures Trading Commission on Sunday urged an Illinois bankruptcy judge to delay a plan to return $123 million to customers of Peregrine Financial Group Inc., cautioning that the collapsed firm's records may be unreliable, given the fraud allegedly perpetrated by its chief executive.

In a statement to the court, the agency said further testing should be done to ensure Peregrine's books and records were not manipulated or otherwise spoiled by firm founder and CEO Russell Wasendorf Sr., who is facing criminal charges that...
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