FUTURES BROKERAGE FIRM MISSING $200 MILLION

A day after the chairman and CEO of Peregrine Financial Group attempted to commit suicide outside of their office, the Commodities Futures Trading Commission filed a request in Federal Court to have the company’s assets frozen, according to a New York Times article. The CFTC also requested a restraining order against Peregrine Financial Group, keeping them from destroying any pertinent information or documents.

The article reported that Peregrine Financial Group was to be holding $225 million dollars of customer funds. However, Peregrine only had $5 million of the customers’ money. It is unknown at this time how the money was diverted or where the money is being kept. It is believed that the US Bank documents that showed the monies location were fraudulent.

If you or someone you know has lost money as a result of an investment, please contact Richard Frankowski at 205-747-1903 to discuss your potential legal remedies.

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