pfg ap

PFG Best (Aust) Pty Ltd, operating as PFG Asia Pacific, was a financial services company headquartered in Sydney, Australia. It was the regional arm of the American firm Peregrine Financial Group (PFG). The company provided online trading services for retail and institutional clients, specializing in foreign exchange (forex), contracts for difference (CFDs), and futures. Its history is inextricably linked to its parent company, which imploded in July 2012 after its founder and CEO, Russell Wasendorf Sr., confessed to a massive, 20-year-long fraud scheme, having embezzled over $200 million in customer funds. This event led to the immediate bankruptcy of the parent company and the subsequent liquidation of its global subsidiaries, including the Australian entity.