U.S. Bank NA held liable for PFG client fund misappropriation, ordered to pay $18 million in restitution LeapRate

February 04, 2015 BY Andrew Saks-McLeod

U.S. Bank NA held liable for PFG client fund misappropriation, ordered to pay $18 million in restitution

U.S. Bank NA was used as a depository for the funds of clients who had trading accounts with Peregrine Financial Group before its demise in 2012. In Summer 2013, the CFTC filed a complaint against the bank, charging it with improperly holding and using segregated funds of PFG customers by allowing PFG CEO Russell Wasendorf Sr to withdraw funds at will

January 08, 2015 BY Andrew Saks-McLeod

Exclusive: Customer advocacy activist James Koutoulas accuses NFA Chairman of improprieties, war of words commences

"I re-iterate that everything I said is true and has been reported to the CFTC with documentary support" - NFA board member and co-founder of Commodity Customer Coalition James Koutoulis

May 29, 2014 BY Andrew Saks-McLeod

Breaking News: Judicial ruling to be set today regarding $10 million settlement to PFG customers

Peregrine Financial Group's customers have been left high and dry for two years, however today's forthcoming ruling by an Illinois court could result in a $10 million settlement.

Tag: peregrine financial group