Son Of Peregrine Ceo Says Fraud Devastating

The son of the disgraced chief of Peregrine Financial said he has been personally and financially devastated by his father's fraud, which brought down the firm and left investors facing tens of millions of dollars in losses.

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    The son of Peregrine Financial Group Inc. founder Russell Wasendorf Sr. accused U.S. Bank NA on Friday of helping his father hide a $100 million embezzlement scheme from regulators, but while his ...
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    Wasendorf was the owner and former chief executive officer of the now-bankrupt Peregrine Financial Group Inc. (PFG), a futures commission merchant headquartered in Cedar Falls, Iowa. In a plea agreement, Wasendorf admitted that, from about the early 1990s through about July of 2012, he stole millions of dollars from PFG’s customers.
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