Founded in 1992 by Russell Wasendorf Sr., Peregrine Financial Group, Inc. was a futures commission merchant headquartered in Cedar Falls, Iowa. The company provided brokerage services for retail and institutional clients in futures, commodities, and foreign exchange markets. For two decades, PFG's CEO orchestrated a sophisticated fraud, embezzling over $215 million in customer funds by forging bank statements to hide the shortfall from regulators. The fraud was exposed in July 2012, leading to the company's immediate collapse, bankruptcy, and a significant loss of confidence in the regulatory oversight of the futures industry.

Founded in

Australia