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Futures Brokerage PFG Best Freezes Accounts Following Discovery Of Accounting Irregularity

Update 3 : Russ Wasendorf Sr., the founder and CEO of PFGBest, reportedly attempted to ... confirmed Monday afternoon. Update 2: PFGBest had $400MM in customer segregated funds at the end ... PFGBest Plans 'Several Hundred' Layoffs, Spokeswoman Tells Dow Jones - Dow Jones. Sounds like a good idea ...

Story - Tyler Durden - 07/09/2012 - 15:53 - 256 comments - 0 attachments

PFG Is Now MFG(lobal) Part 2 As $220 Million In Segregated Client Money Has Just Vaporized

any "material breaches of customer funds protection requirements" at FCMs (firms like PFGBest) UPDATE 1: Account-holders may not be so surprised to find who is the custodian for the PFGBest FX ... National Futures Association, which in turn has just filed notice prohibiting PFGBest from operating ...

Story - Tyler Durden - 07/09/2012 - 18:17 - 357 comments - 0 attachments

Where The "Segregated" PFG Money Is

client cash may have vaporized to... From: "Herb Kral" < xxxx@pfgbest ... ALL !!!! PFGBest had 200 million a few PFGBest had 200 million a few months ago and all the ... guessing that this is not trading for the clients' benefit But PFGBest doesn&#039;t do that.  ...

Story - Tyler Durden - 07/10/2012 - 06:26 - 89 comments - 0 attachments

PFG Head Arrested

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 ... While unable to successfully kill himself, it appears the CEO of PFGBest is even less successful at ...

Story - Tyler Durden - 07/13/2012 - 12:56 - 175 comments - 0 attachments

PGF Files Chapter 7

Peregrine Financial Group Inc, the regulated unit of the brokerage PFGBest, has filed to liquidate under ... BEST REAL PFG BEST AWARDS...    1)PFGBEST was named as one of the Top 50 Brokers by Futures ... was the 13th consecutive year PFGBEST ranked in this elite group. 2)Five stars! PFGBEST ranks ...

Story - Tyler Durden - 07/10/2012 - 20:01 - 98 comments - 0 attachments

Full List Of Companies "Audited" By CYNK's Public Auditor

suburban mom CPA in Chicago? The First Sign of Trouble at PFGBest Might Have Been The Fact That Their ... http://goingconcern.com/post/first-sign-trouble-pfgbest-might-have-been-... U.S. futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears to be operating from inside a suburban Chicago home to ...

Story - Tyler Durden - 07/09/2014 - 15:34 - 81 comments - 0 attachments

Creeping Capital Controls At JPMorgan Chase?

date, no one stands to face criminal charges.   Peregrine Financial Group (PFGBest) In July of 2012 it was discovered that PFGBest stole approximately $220 million of customer funds. While claiming to have over $200 million in bank accounts, it turned out that PFGBest held only close ...

Story - Tyler Durden - 10/16/2013 - 14:31 - 218 comments - 0 attachments

Frontrunning: August 25

(PFGBest) In July of 2012 it was discovered that PFGBest stole approximately $220 million of customer funds. While claiming to have over $200 million in bank accounts, it turned out that PFGBest held only ... The PFGBest government-backed auditors were not independently verifying the bank account balances and ...

Story - Tyler Durden - 08/24/2012 - 06:33 - 12 comments - 0 attachments

Guest Post: TBTF Banks Laughing All The Way Home Thanks To HARP

as assets. Peregrine, commonly known as PFGBest, filed for bankruptcy protection on July ...

Story - Tyler Durden - 08/06/2012 - 22:45 - 49 comments - 0 attachments

JPM Release Earnings: Announces $4.4 Billion CIO Loss, $3.1 Billion In "Profits" From Loan Loss Reserves, DVA

from international business ... that PFGBEST will be able to run at break even," wrote President and ...

Story - Tyler Durden - 07/13/2012 - 06:07 - 39 comments - 0 attachments

Citi Goes Back To The Future: Lessons from U.S. Fiscal Deleveraging After World War II

are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears ...

Story - Tyler Durden - 07/13/2012 - 11:13 - 73 comments - 0 attachments

Desperate Acts Of Government Continued - Europe Edition

on the PFGBest affadavit and who is listed on the NFA website as both the "Director of ...

Story - Tyler Durden - 07/11/2012 - 12:44 - 91 comments - 0 attachments

JPM Admits CIO Group Consistently Mismarked Hundreds Of Billions In CDS In Effort To Artificially Boost Profits

Back on May 30 we wrote " The Second Act Of The JPM CIO Fiasco Has Arrived - Mismarking Hundreds Of Billions In Credit Default Swaps " in which we made it abundantly clear that due to the Over The Counter nature of CDS one can easily make up whatever ...

Story - Tyler Durden - 07/13/2012 - 05:52 - 202 comments - 0 attachments