PFGBest

(Newser) - Police today arrested Russell Wasendorf Sr., the CEO of Peregrine Financial Group and its PFGBest unit, who allegedly tried to kill himself this week, the US Attorney's office announced. Wasendorf, who was charged with lying to regulators, reportedly admitted embezzling "millions of dollars." The complaint against Wasendorf...

(Newser) - PFGBest declared Chapter 7 bankruptcy last night, after the Commodity Futures Trading Commission filed a lawsuit accusing it of fraud, lying to regulators, and abusing customer funds. Regulators believe Russell Wasendorf, who tried to kill himself Monday, had been fabricating bank balances and forging signatures on the documents he submitted...

(Newser) - Midsize futures brokerage PFGBest has frozen its customer accounts, after its founder attempted to kill himself—and left a suicide note hinting at financial irregularities. Russell Wasendorf, a 40-year industry veteran, was found in his car outside the company's headquarters yesterday, and is currently in critical condition at a...