Long-derided as unsuitable for sophisticated futures markets, insurance is getting a surge of attention heading into the new year as the industry works to patch itself up after the stunning collapse of brokerage MF Global in 2011. Three separate efforts …
US Bank is rejecting allegations in a lawsuit that claims one of its employees helped Peregrine Financial Group CEO Russ Wasendorf Sr. mislead regulators about his misuse of customer funds. Wasendorf, the founder of the Iowa brokerage, has signed a …
Federal prosecutors have appealed a judge’s order that would free a disgraced U.S. businessman while he awaits sentencing for a $200 million fraud scheme at his brokerage. The U.S. Attorney’s Office in Cedar Rapids filed paperwork asking Chief Judge Linda …
The founder of an Iowa brokerage has signed a plea agreement with federal prosecutors in which he admits to carrying out a $200 million fraud and embezzlement scheme that bankrupted his company and could result in him spending the rest …
The founder of an Iowa-based brokerage pleaded not guilty on Aug. 17 to fraud charges in a suspected $200 million embezzlement scheme that drove his firm to bankruptcy and left thousands of customers without their money. Peregrine Financial Group Inc. …
U.S. regulators and futures industry players said on Thursday that there is no perfect solution to safeguard customer money in the wake of two major brokerage scandals, but added that policymakers should move quickly on some important fixes. Bart Chilton, …
Officials are moving quickly to seize the wide-ranging personal assets of the disgraced founder of an Iowa brokerage so they can try to reimburse thousands of customers and workers affected by his alleged $200 million fraud. Former workers at Peregrine …
A state official says that up to 250 employees in northeastern Iowa lost their jobs following the collapse of a financial empire owned by a businessman arrested in connection with a $200 million fraud scheme. Iowa Workforce Development spokeswoman Kerry …
