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Peregrine Financial CEO Confesses To 20 Year Undetected Fraud

July 14, 2012 By Problem Bank List Staff Leave a Comment

Russell Wasendorf, Sr., CEO of Peregrine Financial Group (aka PFG Best) admitted in a suicide note that he had embezzled millions of dollars from customers for the past 20 years.  The reason the financial fraud was able to continue undetected for so long was due to a comedy of errors and omissions on the part […]

Filed Under: Banking News, featured, Financial regulation Tagged With: banking industry, financial fraud, Peregrine Financial, PFG Best, Russell Wasendorf, Wasendorf

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