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Peregrine president set to testify before grand jury next week
Source: Reuters
Peregrine president set to testify before grand jury next week
CHICAGO | Fri Aug 10, 2012 7:09pm EDT
(Reuters) - An Iowa grand jury is expected to hear testimony from Peregrine Financial Group's president next week as it begins considering alleged wrongdoing at the failed futures brokerage.
Russell Wasendorf Jr., Peregrine's president and the son of the brokerage's accused chief executive, has been subpoenaed by the grand jury and will likely testify next week, his lawyer told Reuters.
Russell Wasendorf Sr., Peregrine's founder and CEO, was arrested on July 13 on charges of lying to federal regulators in connection with an alleged massive financial fraud at the company. Prosecutors have said they expect to expand charges against him.
Peregrine, commonly known as PFGBest, filed for bankruptcy protection on July 10, one day after Wasendorf Sr. attempted suicide and left a note describing how he had bilked customers of more than $100 million over nearly 20 years.
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CHICAGO | Fri Aug 10, 2012 7:09pm EDT
(Reuters) - An Iowa grand jury is expected to hear testimony from Peregrine Financial Group's president next week as it begins considering alleged wrongdoing at the failed futures brokerage.
Russell Wasendorf Jr., Peregrine's president and the son of the brokerage's accused chief executive, has been subpoenaed by the grand jury and will likely testify next week, his lawyer told Reuters.
Russell Wasendorf Sr., Peregrine's founder and CEO, was arrested on July 13 on charges of lying to federal regulators in connection with an alleged massive financial fraud at the company. Prosecutors have said they expect to expand charges against him.
Peregrine, commonly known as PFGBest, filed for bankruptcy protection on July 10, one day after Wasendorf Sr. attempted suicide and left a note describing how he had bilked customers of more than $100 million over nearly 20 years.
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Read more: http://www.reuters.com/article/2012/08/10/us-grand-jury-peregrine-idUSBRE87918B20120810
