"Iowa brokerage CEO arrested and charged" by Ryan J. Foley | Associated Press, July 14, 2012
CEDAR RAPIDS, Iowa — The chief executive of an Iowa-based brokerage firm admitted in a tell-all suicide note that he carried out an elaborate fraud scheme in which he embezzled at least $100 million from customers over two decades, federal investigators said Friday.
FBI agents arrested Peregrine Financial Group Inc. Russell Wasendorf Sr. at a local hospital Friday and he appeared in federal court later in the day on charges of lying to federal regulators. Court documents detail a wide-ranging fraud scheme in which Wasendorf apparently fooled colleagues, customers, and regulators by creating fraudulent financial records.
It is becoming clear that the ENTIRE AmeriKan ECONOMY is BASED on FRAUD!! That is where the "profits" are coming from!!
Those documents detailed a note found in Wasendorf’s car Monday, when authorities found him unresponsive in the vehicle outside the company’s headquarters in Cedar Falls. ‘‘Through a scheme of using false bank statements I have been able to embezzle millions of dollars from customer accounts,’’ Wasendorf wrote, adding that the fraud had gone undetected ‘‘until now.’’
Assistant US Attorney Peter Deegan said during the court hearing Friday that Wasendorf could face a wide range of additional criminal charges and decades in prison for what the prosecutor called a $200 million scheme in which Wasendorf embezzled customer funds for 20 years.
Wasendorf, who investigators said tried to commit suicide by hooking up a tube to his car’s tailpipe, had been hospitalized since Monday....
Can't these guys do anything right?
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I'm of the mind lately to encourage all bankers and their political and media lackeys, in the name of the greater good, global warming, and a better planet, to commit suicide.
--tipocap--"
It's your choice regarding method, scum.
And what's this, the GOVERNMENT had LOOKED INTO IT and FOUND NOTHING -- TWICE?!!
"Peregrine’s fraud went undetected in two US government reviews' by Silla Brush | Bloomberg News, July 17, 2012
WASHINGTON — The Commodity Futures Trading Commission reviewed operations at Peregrine Financial Group at least twice since 2006 without detecting the fraud that led to the collapse of the futures broker and a $200 million shortfall in client funds.
WTF?!?!
The agency conducted examinations at Peregrine in 2007 and 2008, according to a list of CFTC reviews obtained through a public records request. The list, which includes reviews between 2006 and Nov. 9, 2011, does not detail what records or procedures examiners evaluated.
A third review was listed in 2011. A CFTC official said the 2011 exam was scheduled to oversee compliance with foreign exchange regulations but did not take place because of limited resources. The official spoke on condition of anonymity because the agency was still reviewing the matter.
Translation: the tax loot is only going to Wall Street, wars, tyranny, and Israel.
Get used to it, 'murka.
Peregrine is under investigation after chief executive Russell Wasendorf Sr. attempted suicide. Wasendorf had written a signed statement that he committed fraud for two decades at his Iowa-based company, according to a criminal complaint.
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Related: U.S. Government Knew About Madoff Scheme Since 1960
Yeah, it's HARD TO FIND STUFF when you HAVE YOUR EYES CLOSED -- or are watching porn!
