Bob Morris Posted on Sat Jul 14, 2012 8:49 am.
PFGBest used a one person accounting firm to audit their books, this for a company that had $500 million in customer accounts. Russell Wasendorf Sr., founder and CEO of PFGBest has admitted to stealing $100 million over 20 years. He was the only one who had access to the bank accounts and always had bank [...]
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Bob Morris Posted on Tue Jul 10, 2012 9:34 am.
Our Potemkin financial system continues to show the cracks in the edifice behind the pretend display of stability with the collapse of brokerage PFGBest. More than $200 million in customer funds appears to be missing from the accounts of futures broker PFGBest, regulators said on Monday just hours after the firm’s founder attempted suicide outside [...]
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