Quantcast
Feeds: Email, RSS & Twitter

Get Our Videos By Email

 

8,300 Unique Visitors In The Past Day

 

Powered by Squarespace

 

Most Recent Comments
Cartoons & Photos
SEARCH
« BOMBSHELL VIDEO - Greenspan Admits To Rampant Fraud & Illegal Activity In U.S. Banking System While Sharing Jekyll Island Stage With Bernanke | Main | LAWSUIT - Morgan Stanley Conspired With S&P To Inflate Ratings On $23 Billion Of Subprime Securities »
Tuesday
Jul102012

Brandt: "I Expect To Lose Money On Peregrine Due To The Complete Incompetence Of The CFTC"

Runs 2 minutes.

Peter Brandt discusses his mistrust of the CFTC's investigation into Peregrine Financial Group after the federal regulator's handling of MF Global.

"I expect to lose money because of the complete incompetence of federal regulators."

"The CFTC is the get-away driver of the robbery."

"I have no trust and no faith that the CFTC is capable of handling this mess."

---

CFTC sues PFG for 'violating' customer funds

WASHINGTON (MarketWatch) - The nation's commodity's regulator on Tuesday said it filed a lawsuit against Iowa-based investment firm Peregrine Financial Group Inc. alleging that the firm committed fraud by misappropriating customer funds. According to the Commodity Futures Trading Commission, in July 2012, the firm allegedly falsely said it held more than $220 million of customer funds when in fact it held approximately $5.1 million. The CFTC complaint in the United States District Court for the Northern District of Illinois follows a similar situation with New York-based MF Global, which filed for bankruptcy on Oct. 31 after disclosing exposure to derivatives and other investments related to billions of dollars in European sovereign debt and leading to $1.6 billion in missing customer funds.

Background:

PFG founder attempts suicide as $200m goes missing from accounts...

 

 

 

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.