Peregrine A More Likely Criminal Target Than MF Global

Law360, New York (July 10, 2012, 8:13 PM EDT) -- Peregrine Financial Group Inc.’s reported $200 million customer fund shortfall drew instant comparisons to MF Global Inc., the poster child for embattled futures brokers, but experts said Peregrine faces an even rockier litigation landscape — including likely criminal charges.

Peregrine, also known as PFGBest, was slapped with a civil suit Tuesday by the U.S. Commodity Futures Trading Commission alleging it failed to maintain adequate customer funds in segregated bank accounts. The complaint came after the National Futures Association decided on Monday to ban the company from...
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