PFG Head Arrested

Tyler Durden's picture




 

UPDATE: Suicide note details added:

  • *WASENDORF SAID HE USED PHOTOSHOP, SCANNER IN FORGERY, U.S. SAYS
  • *WASENDORF SAID CHOICE WAS GO OUT OF BUSINESS OR CHEAT: U.S.
  • *WASENDORF'S STATEMENTS MADE IN SUICIDE NOTE, PROSECUTORS SAY
  • *PEREGRINE'S WASENDORF SAID `I HAVE COMMITTED FRAUD,' U.S. SAYS

While unable to successfully kill himself, it appears the CEO of PFGBest is even less successful at evading the police. As just reported,

  • *PFGBEST'S WASENDORF ARRESTED IN IOWA
  • *FED PROSECUTORS CHARGE IOWA FIRM CEO  W/ LYING TO REGULATORS:AP
  • *PEREGRINE CHIEF WASENDORF CHARGED BY FEDERAL PROSECUTORS (with making false statements to the CFTC)
  • *WASENDORF FRAUD AT PEREGRINE LASTED 20 YEARS, PROSECUTORS SAY

What is probably more concerning to him now is the fact that he was not a Presidential bundler - as the Big House is definitely calling...

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Fri, 07/13/2012 - 13:57 | 2613612 LawsofPhysics
LawsofPhysics's picture

Where is John Corzine motherfuckers?

Fri, 07/13/2012 - 13:59 | 2613628 Rainman
Rainman's picture

wherever he is, he grateful for the diversion.

Fri, 07/13/2012 - 14:04 | 2613659 DoChenRollingBearing
DoChenRollingBearing's picture

Corzine is an Obama bundler, and so is immune.

I don't KNOW, but I bet Wasendorf is not.

Fri, 07/13/2012 - 14:16 | 2613730 iDealMeat
Fri, 07/13/2012 - 14:41 | 2613850 NotApplicable
NotApplicable's picture

As of the end of the first quarter, Corzine had bundled over $500k.

http://www.weeklystandard.com/blogs/jon-corzine-still-bundling-obama_640...

Second quarter should be released in a week or so if the timing is the same.

Fri, 07/13/2012 - 14:57 | 2613927 idea_hamster
idea_hamster's picture

The fraud lasted 20 years?

I'm actually more shocked that this dingus needed to forge documents only 5 years after his HUGE 1987 short call win.  What a dork.

Fri, 07/13/2012 - 15:17 | 2614076 saturn
saturn's picture

When is the whole government arrested and sent to Madoff's for bestowing a ponzi scheme upon whole humankind?

Fri, 07/13/2012 - 15:52 | 2614241 Pinto Currency
Pinto Currency's picture

 

The regulators are shocked, shocked.

Anyone need PFG's bars?

Get in line.

Sat, 07/14/2012 - 03:18 | 2615311 eatthebanksters
eatthebanksters's picture

It's pretty clear that Corzine is smarter inat least one way...misleading the authories (an evading arrest)

Sat, 07/14/2012 - 08:23 | 2615432 GetZeeGold
GetZeeGold's picture

 

 

I'll take fleeing the authorities for $1000 Alex.

 

When you steal peoples money where do you go?

 

That would be France Alex.....not Iowa.

Fri, 07/13/2012 - 15:11 | 2613932 Rasna
Rasna's picture

$500K is not even walking around money for these guys.  The Son of a Bitch needs to go down - arrested, indicted, prosecuted and sent to jail.

O promised "Change We Can Believe In", what we're getting is more of the same.

Fri, 07/13/2012 - 14:18 | 2613749 101 years and c...
101 years and counting's picture

I would love to be the attorney on this one.  IF JOHN CORZINE IS INNOCENT, SO IS MY CLIENT.

NEXT!

Fri, 07/13/2012 - 14:25 | 2613785 Spaceman Spiff
Spaceman Spiff's picture

too rational... expect disbarment.  

Sat, 07/14/2012 - 10:22 | 2615519 GetZeeGold
GetZeeGold's picture

 

 

I was framed!!!

 

They put me in the lineup and let the bright lights chine.

http://www.youtube.com/watch?v=1uOIjc_ge68

 

Fri, 07/13/2012 - 14:41 | 2613795 TruthInSunshine
TruthInSunshine's picture

My Fellow Citizens,

While I am relieved to see that very preliminary measures regarding massive, systemic misappropriation of client funds by PFG are underway, we all need to by mindful of the sober fact that much work needs to be done to improve the odds that as full a measure of justice, economic and otherwise, is provided to all clients & victims of PFG.

This preliminary measure should also serve to warn all persons and institutions that may be arrogant enough to believe that they can emulate the actions and behavior of the PFG's of the world and escape justice. They can not & will not be allowed to do so.

As I've stated previously, our systems of economics and justice, which inherently rely on a robust pillar of trust in institutions, can not survive unless those who perpetrate fraud on this scale, obviously fueled by a seemingly unquenchable avarice and greed, are appropriately punished for their reprehensible deeds.

Finally, I would like to specifically acknowledge the outstanding dedication, attention to detail and willingness to pursue all leads and turn over any stone, that Mr. Eric H. Holder, Jr. our esteemed United States Attorney General, has shown yet again.  His campaign to root out and prosecute what can only be desribed as a massive, viral epidemic of Wall Street & financial fraud, that has gone on virtually unchecked for far too long, is a modern testament to the ever vigilant system of justice that serves to protect all of us who always have and who always will "play by the rules."

Sincerely,

The Hon. Jon S. Corzine

Former United States Senator (D-NJ), Former Governor of New Jersey, Former CEO of Goldman Sachs, Former CEO of MF Global (a former Primary Dealer), and prominent Obama Bundler

Fri, 07/13/2012 - 14:42 | 2613854 12ToothAssassin
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Placeholder

Fri, 07/13/2012 - 15:08 | 2613946 Rasna
Rasna's picture

Assholder

From the Huffpost blog article:

Where are the indictments?

But there have already been stories -- lots of stories, terrible ones -- about corruption, bribery, perjury, forgery and a dozen different kinds of fraud. There have been stories about laundering money for the Mexican drug cartels, including a new lead that surfaced this week. There's already ample evidence that Wall Street bankers have defrauded cities, deceived investors and cheated their own clients.

Some of the bankers even rewarded themselves in that time-honored tradition of gangsters everywhere: with hookers, blow and orgies.

The problem isn't a shortage of scandalous stories. We've seen a lot of those. What we haven'tseen, at least here in the United States, is a single indictment of a senior Wall Street banker from the United States Department of Justice. And that's what has these political insiders concerned.

Fri, 07/13/2012 - 15:49 | 2614232 AmCockerSpaniel
AmCockerSpaniel's picture

I lost millions on Lucent (am very short and dumb story that I take full credit for in February ~ April 2000). This is how I wound up in physical Gold & Silver. I'm still waiting for an indictment. What ever may happen, I will never be as close to negative again.

Fri, 07/13/2012 - 14:43 | 2613864 NotApplicable
NotApplicable's picture

Laws are for the little people. (no, not them, the other little people)

Fri, 07/13/2012 - 14:30 | 2613807 HardAssets
HardAssets's picture

Wasendorf is too low on the food chain. Doesnt matter which side of the DemoRepublicrat circus you say youre on. If high enough up, you got plenty of dirt on the rest of them - - even if they did want to go after you, and they don't.

They have their eyes on the real source of loot for them. . . the American citizenry. Why screw that up.

Though Wasendorf might make a good poster boy for 'the governments clean up of corruption' however.

Fri, 07/13/2012 - 15:05 | 2613990 Milestones
Milestones's picture

Guess everyone's reaction was excatl as yours above and probaably below; where is this punk? Notice  How similiar (O'blaH BLAH, Holder and Corizine are?--Like 3 peas in a pod.       Milestones

Fri, 07/13/2012 - 14:04 | 2613660 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I wonder if he is hanging out where Ken Lay is?

Fri, 07/13/2012 - 14:24 | 2613777 bubbleburster
bubbleburster's picture

He sure ain't shorting Silver.  It remains unchanged today

Fri, 07/13/2012 - 14:17 | 2613745 HardlyZero
HardlyZero's picture

He did not rehypothecate.

He did not jovially bundle.

He will do time long before JC.

Fri, 07/13/2012 - 14:08 | 2613687 Wakanda
Wakanda's picture

Iowa?

Fri, 07/13/2012 - 14:42 | 2613856 Bay of Pigs
Bay of Pigs's picture

He was looking to get picked up in the corn field crop circles by the alien lizards in their spaceships

Fri, 07/13/2012 - 15:07 | 2614003 Wakanda
Wakanda's picture

Field of dreams in Iowa - I get it now! : )

Sun, 07/15/2012 - 08:29 | 2617061 GetZeeGold
GetZeeGold's picture

 

 

Iowa. Last place they would check.....but eventually.....they do.

 

Fri, 07/13/2012 - 15:08 | 2614008 johnQpublic
johnQpublic's picture

...thereby proving two more conspiracys at once...

Fri, 07/13/2012 - 14:14 | 2613726 Wakanda
Wakanda's picture

Maybe Inaction Jackson is saving it all up for a huge September Lieborgate RICO party so BO's re election commercials can have orange jumpsuit footage of his "bundlers"?

Nah...

Fri, 07/13/2012 - 14:27 | 2613793 cougar_w
cougar_w's picture

What the hell, he just might. Wouldn't that be a hoot. Like how Hitler had his early supporters arrested for criminal activity, creating the Brown Shirts for the task. If I recall my Third Reich history at all correctly.

Fri, 07/13/2012 - 14:35 | 2613823 Wakanda
Wakanda's picture

I posted that as a joke but half serious.  It would be red meat for his core base and a chance to win back the Huffpo white middle class that put him in the Oval Office.

I would certainly enjoy the orange jumpsuit parade no matter who threw the party.

Fri, 07/13/2012 - 14:34 | 2613824 chunga
chunga's picture

The DOJ, CFTC, SEC, bunglers are about as good at their jobs as was the Nazi Ethics Committee

Fri, 07/13/2012 - 14:46 | 2613877 Whiner
Whiner's picture

A positive thought for.these grey times. I prefer a comparison to Hitler wiping out his longstanding bully boys, The Broen Shirts in order to win over the Army. Corzine gets the 3:00 am knock on the door and he and his family disappear with angular men In leather coats.

Fri, 07/13/2012 - 14:15 | 2613731 Mr. Poon
Mr. Poon's picture

I don't know where Jon Corzine is, but if I were to guess, I would say he's working the phones reminding certain people that if they parade him in front of the cameras for a perp walk, the pictures of him and the President side-by-side will also start popping up.

Goes to show:  if you want a get-out-of-jail-free card, just make sure you're in plenty of camera shots with the President.

Sun, 07/15/2012 - 08:33 | 2617065 GetZeeGold
GetZeeGold's picture

 

 

I don't know where Jon Corzine is

 

Here's a hint.....would you like some FRENCH frys with that?

 

Roman Polanski orders them everytime he's in town.

 

 

Fri, 07/13/2012 - 14:53 | 2613911 Id fight Gandhi
Id fight Gandhi's picture

Exactly. Wtf?!!

Fri, 07/13/2012 - 14:54 | 2613918 Rasna
Rasna's picture

Is this this first arrest in the infinite arena of ongoing financial fraud?

Martha and Bernie don't count.  We need to see the banksters go down... Corzine, Blankfein, Dimon, BofA, JPMC, Wells, GS, just to name a few.  These bastards have robbed, raped and pillaged and ruined the lives of millions here and around the world.

Eric Holder is an enabler and he takes his orders from O ( who I voted for last time around.  Having Sarah Palin a heartbeat from the levers of power made my head spin). But we all know that all of these SoB's are owned by the Financial Oligarchy.  Eric Holder should be investigates and charged with gross incompetence and malfeasance. 

All of the bankster roaches will scurry for the shadows while WASENDORF is offered up as a sacraficial goat.  We need some financial DDT and someone with the guts to use it.

I hate this shit and it's been going on far to long.

Fri, 07/13/2012 - 23:44 | 2615183 harleyjohn45
harleyjohn45's picture

Did you even bother to check Palins record against Obama's record.  If not, then you are a stupid as you look,.

Fri, 07/13/2012 - 23:42 | 2615184 harleyjohn45
harleyjohn45's picture

Did you even bother to check Palins record against Obama's record.  If not, then you are a stupid as you look,.

Fri, 07/13/2012 - 14:55 | 2613922 Arnold Ziffel
Arnold Ziffel's picture

Medal of Honor for Wassendorf...he admits his transgressions and this is a good sign there is at least a flicker of remorse, unlike the other arrogant POS, Vizine.

Fri, 07/13/2012 - 15:20 | 2614088 Rasna
Rasna's picture

Here...

You forgot to add ...

/sarc

There... that should take care of it.

Fri, 07/13/2012 - 18:43 | 2614741 tbd108
tbd108's picture

He's a Hawkeye (as I am) so he is not without some decency (not much maybe, perhaps at least has a sense of shame).

Sat, 07/14/2012 - 11:28 | 2615678 ultraticum
ultraticum's picture

Iowa, once a state known for its republican values and independent spirit is now a poster child for everything wrong with America. The farmers have become welfare slaves, and everybody else is a tattooed fat ass living off other transfer payments. Hence a true blue state.

Fri, 07/13/2012 - 14:59 | 2613944 Animal Cracker
Animal Cracker's picture

Teflon John paid tribute.  He knew the real rules.

Fri, 07/13/2012 - 15:46 | 2614211 Rasna
Rasna's picture

Jon "the Godfather" Corleone errrrrrrrrrrrrrr Corzine, knows the rules, is paying tribute... and is currently untouchable... O and assholder haven't the slightest inclination to go after him or bankster like him.  There are no Michaels on the horizon, who knows what it takes to create an environment where business can be conducted.

Fri, 07/13/2012 - 15:00 | 2613948 lunaticfringe
lunaticfringe's picture

At least this dude has a conscience. Corzine just a greedy sociopath.

Fri, 07/13/2012 - 16:17 | 2614335 LawsofPhysics
LawsofPhysics's picture

so the guy with a conscience (I doubt it) goes to jail and the sociopath doesn't?  FAIL.

Fri, 07/13/2012 - 18:27 | 2614557 New World Chaos
New World Chaos's picture

This is part of their grand plan for making the world safe for sociopathocracy.  It's a giant selective breeding program implemented through the financial and legal systems and the media.  At all levels narcissistic sociopaths must be rewarded with all kinds of booty; women must be conditioned to put out for sociopaths in proportion to their swag; honorable men must be punished or at least marginalized.  Having a conscience was one of Wasendorf's big mistakes (along with not being a bagman for Obama and not being a former CEO of the Squid). 

Madoff's big mistake was stealing from Zionist charities.

Didn't junk you.

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