• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Full PFG CEO Suicide Note

Tyler Durden's picture


"I have committed fraud. For this I feel constant and intense guilt...


The forgeries started nearly twenty years ago...


Should I go out of business or cheat...


I guess my ego was too big to admit failure..."


CEO Suicide note details:


Full Affidavit here:

PGF Affidavit

Your rating: None

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Fri, 07/13/2012 - 15:09 | 2614013 Al Huxley
Al Huxley's picture

I find the whole thing a little dubious - the guy's in business for years, working according to financial industry standard practices (ie lie, cheat, steal, forge documents, etc.) and suddenly he grows a conscience?  And then leaves a note to the effect of 'look no further for evidence of wrongdoing, it was all on me, no need for further investigation'.  When they found him after his suicide attempt, how many knives did he have in his back again?

Fri, 07/13/2012 - 15:23 | 2614111 Almost Solvent
Almost Solvent's picture

Reminds me of that last letter from the coward piece of shit JoePa (Paterno) to the effect that protecting Sandusky has nothing to do with the football program. Do not do anything to hurt the Penn State football program. 



Fri, 07/13/2012 - 15:52 | 2614247 OliverTwist
OliverTwist's picture

Exactly Al Huxley!

Actually it was an accident. He slipped on a banana and has fallen in a knife .... 12 times


Fri, 07/13/2012 - 16:24 | 2614367 slackrabbit
slackrabbit's picture

lol thats sounds like the South African poltical prisoners in the 1980's who 'escaped their locked cells and jumped off the top of the biulding'

These guys don't giver damn who they hurt.

Look at Madoff...he turned himself in only because the market went south and he had ripped off the MOB, the Yakuza, the russian mob and the triads. 

No shit, this guys was the most bally bit of scum to visit the planet.....so he turned himself in to get protection! Then he laughed about it.

Like everyone else here says......this is a set up! After 20 years, you wouldn't give a s**t!

Fri, 07/13/2012 - 15:09 | 2614015 williambanzai7
williambanzai7's picture

I want Limerick King to redo that as a Limerick

Fri, 07/13/2012 - 15:16 | 2614063 SoNH80
SoNH80's picture

This is sort of a limerick/haiku.





Fri, 07/13/2012 - 15:28 | 2614130 SqueekyFromm
SqueekyFromm's picture

Hi WB7!!!

I did another Poem below before I saw your request. But here is you an Irish Poem, too.


There once was a broker from Chicago,

(The same place that yielded us "Blago.")

And as sure as the rain,

"Chaos comes again. . ."

(Which was said in Othello by Iago.)


Squeeky Fromm, Girl Reporter




Fri, 07/13/2012 - 15:39 | 2614185 TheFourthStooge-ing
TheFourthStooge-ing's picture

But hey, at least the people who invested money with his company didn't get ripped off by buying gold, right?


Fri, 07/13/2012 - 15:44 | 2614208 akak
akak's picture

No, those people could not possibly have gotten ripped off, because his company never ran television ads.

Fri, 07/13/2012 - 16:12 | 2614316 SqueekyFromm
SqueekyFromm's picture

Akak and 4thStooge:

Well, I would not be at all surprised if Wasendorf, Sr. lost the $200 million in precious metals trades. OH, what are you two going to say then??? I sooo hope at his trial he says, "But I just luuvvvvve the feeeel of gold. . ." And then he laughs maniacally and stuff.

Squeeky Fromm, Girl Reporter

Fri, 07/13/2012 - 16:18 | 2614342 TheFourthStooge-ing
TheFourthStooge-ing's picture


Well, I would not be at all surprised if Wasendorf, Sr. lost the $200 million in precious metals trades.

Dude, your cackling anti-gold trollery has been exposed.

Fri, 07/13/2012 - 17:39 | 2614601 akak
akak's picture

Shhhhhh!  Not so harshly!

You might make her jump and lose her Junior Nadler Secret Decoder Ring.

Then she would miss tonight's secret message on CNBC:

(Of course, that is the secret message EVERY night.)

Fri, 07/13/2012 - 18:10 | 2614674 SqueekyFromm
SqueekyFromm's picture


You and 4th Stooge are sooo PSYCHOLOGICALLY UNAWARE that you have missed the Freudian Message in Wasendorf's attempt. A SILVER cavalier, and of course a Cavalier is a RUBRIC automobile. I just bet something will come out about this in his trial. 

Squeeky Fromm, Girl Reporter

Fri, 07/13/2012 - 18:49 | 2614748 akak
akak's picture

A SILVER cavalier, and of course a Cavalier is a RUBRIC automobile. I just bet something will come out about this in his trial.

Are you channeling AnAnonymous here?

If so, you forgot to gratuitously use the nonsensical phrase "US Citizenism".

Fri, 07/13/2012 - 19:31 | 2614828 TheFourthStooge-ing
TheFourthStooge-ing's picture

SqueakerFrom said:


You and 4th Stooge are sooo PSYCHOLOGICALLY UNAWARE that you have missed the Freudian Message in Wasendorf's attempt. A SILVER cavalier, and of course a Cavalier is a RUBRIC automobile.

Squeaker, dude, you are reading sooooooooooooooooooooooo much more into this than really exists.


Sat, 07/14/2012 - 19:58 | 2616528 Tsunami Wave
Tsunami Wave's picture

Squeeky Fromm, Civis Mundi.

Why on Earth do you keep coming back, Red Neck Repugnicant/Texas Gunslinger/Math Man/Libertarians for Prosperity/Maxine Fucktard?


Fri, 07/13/2012 - 15:10 | 2614021 mendigo
mendigo's picture

Corruption is the norm and semi- respectable like being a former porn star or gang member.
Should have been teacing at Printerton or warton.

Such a waste.

Fri, 07/13/2012 - 15:10 | 2614023 Stuart
Stuart's picture

Should I go out of business or cheat... now one understands the dilemma for the entire country.   It's not Bernanke's dilemma its anyone who is remotely part of the government of the nation.   It's all the citizens of the country.  Does the public expect officials to cheat in order to keep the country functioning as a going concern.   Do I cheat or lose when losing means country falls down the ladder..  Now we understand why the cheating is going on.   So whatchagonna do about it.


Fri, 07/13/2012 - 15:12 | 2614036 Seasmoke
Seasmoke's picture

if everyone in baseball just used steroids, there would have been no unfair advantages

Fri, 07/13/2012 - 15:44 | 2614212 12ToothAssassin
12ToothAssassin's picture

While on the surface that sounds true and is an easy fix, but different people react differently to steroids, so even when everyone is juiced to the gills, its still unfair. Go figure.

Fri, 07/13/2012 - 15:30 | 2614139 iDealMeat
iDealMeat's picture

Cut up all your credit cards. Stop buying useless crap at retail.  Use cash, and shop local.


Sat, 07/14/2012 - 15:31 | 2616224 prole
prole's picture

"Retail?" hmm ..... I've heard this word before what does it mean?

Fri, 07/13/2012 - 15:38 | 2614174 NotApplicable
NotApplicable's picture




Fri, 07/13/2012 - 16:20 | 2614350 slackrabbit
slackrabbit's picture

If we don't cheat, then who?

(see now it sounds noble...put that on OBummers autoque)

Fri, 07/13/2012 - 15:10 | 2614025 Seasmoke
Seasmoke's picture

hey it was a hell of 20 years ......but now the devil wants his due

Fri, 07/13/2012 - 15:11 | 2614026 williambanzai7
williambanzai7's picture

What precsely is this guys reltionship with Hank Paulsen?

Fri, 07/13/2012 - 15:14 | 2614055 falak pema
falak pema's picture

they were both skull without bones.

Fri, 07/13/2012 - 16:23 | 2614311 Careless Whisper
Careless Whisper's picture

@ banzai7

Well, at a minimum, they both served at the same time on the Board of Directors of the Peregrine Fund, because they care about "vulture conservation" (their words, not mine). It's just a coincidence that they want to protect birds in Kenya where there are rare earth mineral deposits. Just a coincidence.






Fri, 07/13/2012 - 21:35 | 2614988 Colonel
Colonel's picture

Banksters are into vulture conservation, go figure.

Fri, 07/13/2012 - 19:37 | 2614838 TheFourthStooge-ing
TheFourthStooge-ing's picture

WB7 asked:

What precsely is this guys reltionship with Hank Paulsen?

They sucked each other's jaggons.


Fri, 07/13/2012 - 15:12 | 2614038 Harriet Wanger
Harriet Wanger's picture

It's such a relief that he had no confederates and US Bank wasn't involved.

Fri, 07/13/2012 - 15:13 | 2614046 Dumpster Fire
Dumpster Fire's picture

tried to asphyxiate himself by funneling tailpipe exhaust into his silver Chevrolet Cavalier,



Damn that is kinda sad.

Fri, 07/13/2012 - 15:30 | 2614136 Dr.Vannostrand
Dr.Vannostrand's picture

+1 Cannot upvote you because of the italics. You'd think if your going to skim, at least roll with an SL500 or something. But that would arouse suspicion ; not the fact that nobody else in PFG had access to any financial documents.

Fri, 07/13/2012 - 15:33 | 2614157 RobD
RobD's picture

The guy vaporizes millions of dollars and all he has for his suicide ride is a Chevy Cavalier? WTF? Who in there right mind would even have a Chevy Cav? Do they even make those anymore?

Fri, 07/13/2012 - 16:12 | 2614318 Jena
Jena's picture

That right there must have been the manifestation of his guilty conscience.  But if he'd really been feeling bad, he'd have found an old Pinto or Pacer just for the humiliation and subjugation.

Fri, 07/13/2012 - 22:56 | 2615131 TheFourthStooge-ing
TheFourthStooge-ing's picture

Hah! I remember the Pacer. Everyone referred to it as a fishbowl on wheels.


Fri, 07/13/2012 - 19:27 | 2614813 Prometheus418
Prometheus418's picture

That's what I drive, but all I do is make sure that foreign nukes don't give you special folks a sunburn.  Can't do much about the domestic ones, though.

(In case you can't read between the lines, that means "Fuck you, you elitist POS.")

Fri, 07/13/2012 - 20:18 | 2614898 Prometheus418
Prometheus418's picture

Fair enough, that was a junk comment.  It is fight club after all, though- and I get my turn to piss people off, too.

All the same, there are at least a half dozen Cavaliers between my house and the grocery store three blocks away.  For a website that constantly promotes the avoidance of credit money, I'm amazed that a car that is reasonably reliable and can be purchased with cash would be looked upon with scorn.  For those who are actually doing what the prepper edict preaches, a Cavalier isn't a horrible choice.  They aren't anyone's idea of sexy, but the crapboxes will run a couple hundred thousand miles after they start belching smoke and transform into "fill the oil, check the gas" vehicles.

Next time, I'll have to try harder and lease an Escalade with low monthly payments, rather than putting (fiat) down on a counter and actually owning a POS outright.

Fri, 07/13/2012 - 15:14 | 2614049 oleander garch
oleander garch's picture

There you go.  He "felt guilt."

Jon Corzine and Hank Paulsen and all the others feel no guilt.  That is why they are not indicted, arrested or imprisoned.

This is what we call a thought crime.  Cannot have it in our timocracy.

Fri, 07/13/2012 - 15:14 | 2614050 paint it red ca...
paint it red call it hell's picture

that's bullshit, who's he protecting by falling on his sword.

Fri, 07/13/2012 - 15:35 | 2614165 Dr. Engali
Dr. Engali's picture

Corzine....and the status quo.

Fri, 07/13/2012 - 15:14 | 2614054 wretch
wretch's picture

These sorts of confessions only appear in two cases: when setting up patsies and when ending Scooby Doo episodes.  Suicidal CEOs have no motivation to carefully and thoroughly document their crimes to make things easier for investigators.  This is absurdly obvious.

Fri, 07/13/2012 - 20:08 | 2614888 geekgrrl
geekgrrl's picture

Rut roh, "suicide attempt" not passing ZH smell test.

Fri, 07/13/2012 - 15:15 | 2614061 surf0766
surf0766's picture

it makes you wonder if anything producted is not a lie.

Fri, 07/13/2012 - 15:16 | 2614066 SqueekyFromm
SqueekyFromm's picture

He could have at least done it in a poem:


An Ode to Self-Liquidation

In Honor of Wasendorf, Sr.

by Squeeky Fromm


For PFG I was the C-E-O

I started stealing twenty years ago.

It was a crime, and I'm bad I know,

Can't blame it on the Whores and Blow.

So I tried to drown my shame with grace,

With a coup de gras shot to my face.

But crap, I'm just a stupid joker.

I forgot to fill up the Super Soaker.


Squeeky Fromm, Girl Reporter


Fri, 07/13/2012 - 15:26 | 2614122 fuu
fuu's picture

<golf clap>

Fri, 07/13/2012 - 15:19 | 2614082 BankRiot
BankRiot's picture

Who's handwriting was the note it????

Are we sure it was a suicide????

These crooks barely ever commit suicide, they are too cowardly.

Fri, 07/13/2012 - 15:26 | 2614121 Seasmoke
Seasmoke's picture

Linda Green

Fri, 07/13/2012 - 15:19 | 2614084 The Gooch
The Gooch's picture

Jr. Is in on it too...
This is a bad b-movie plot.

Fri, 07/13/2012 - 15:19 | 2614086 TahoeBilly2012
TahoeBilly2012's picture

Looks like he "Madoff" with most of the money...

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