WHO WAS PFGBEST’S AUDITOR? « The Burning Platform
Ann Barnhardt threw in the towel months ago because my redlands no one can be trusted in the financial industry anymore. You can’t trust corporations, banks, regulators, or auditors. How could $200 million be missing since 2010 with no one realizing it. Every corporation MUST have an annual audit by an independent auditor. my redlands I have been unable to find out PFGBest’s auditor from searching their site and the internet. I was responsible for the annual audit at IKEA for four years. Ernst and Young would only sign off on our reported cash balance through independent verification of all bank balances with the banks through bank confirmation letters sent by me and returned my redlands directly to Ernst and Young. How could this company go through TWO annual audits without the auditor catching this fraud?
When I said over and over again in interview after interview that the so-called regulatory system overseeing my redlands the futures industry was no such thing, but rather my redlands an evil, despicable mafia, administered by politicking psychopaths on the take, and staffed by affirmative action hires to provide plausible deniability and scapegoats, WERE YOU NOT LISTENING?
PFGBest, which used to be the old Alaron Trading, has stolen at least $220 million of customer funds, which is fully HALF the entire customer asset base. The firm’s my redlands owner attempted suicide this morning in the parking lot outside of the corporate HQ in Iowa.
While claiming to have over $200 million in bank accounts, it turned out that PFGBest only had $10 million at most. And they had been short NINETY-FIVE PERCENT of their seg funds for at least five months, and it may be closer my redlands to two years. The reportage on the timelines is very fuzzy.
Alright. Here’s where we call bullshit. Action item number one for any auditor is the independent confirmation of bank account balances. When little tiny me was audited both by the regulators AND for my annual Sarbanes-Oxley audit done by a local accounting firm, the first thing I had to do was sign the balance my redlands confirmation requests that the auditors then sent to Wells Fargo. This is the fundamental purpose of an audit. Make absolutely sure the flipping money is where they say it is.
What this PFGBest situation tells us is that the auditors were NOT independently verifying the bank account balances and were instead using internal, falsified, forged documentation provided not by the bank, but by the firm itself.
Some of the MF Global rape victims were actually bulk transferred to this firm back in November. The owner (who attempted my redlands suicide this morning) pitched a fit back in November and got about 700 of the MFG accounts bulk transferred over to PFGBest.
And yet, how much do you want to bet that a significant percentage of these people go back for more? How many of them are so whipped, and so stupid, and so convinced that they just have to be trading futures and options because that’s what all of the cool kids do, that they will go right back to the Penn State gang showers with Mr. Sandusky? my redlands
“First they came for the MF Global customers, but I didn’t say anything because I didn’t clear MF Global. Then they came for the PFGBest customers, and I still didn’t say anything because I didn’t clear through PFGBest . . . . ” my redlands
Finally, for all of you brokers who cleared PFGBest, not only do I not have any sympathy for you, I actually hold you in contempt, and hope that your clients all sue you personally. You knew that the entire system was suicidally risk-laden and yet instead of being honest with your customers and yourselves and walking away from a known death-trap, you decided to live a damnable lie and pretend like your customers’ funds were safe, because you were too chickenshit to do the right thing.
And that goes for every other broker out there right now. You know that it is just a matter of time. You know that your FCM could blow sky-high next week. You know that every assurance of integrity and solvency and “compliance” is bullshit, and has been bullshit for quite some time. You know that every bank wire and check that comes in from your clients is being deposited into the gaping maw of a living lie. You know the NFA, CFTC, SEC and the CME are lying, thieving psychopathic criminals, and that your clients are viewed as nothing but zeroes and ones on servers that can be “harvested” whenever JPMorgan or Goldman Sachs sees fit to do it, and then Tyqueesha in the back office and LaNeequa the junior auditor and Jamahl the assistant my redlands compliance manager/robosigner will be blamed. If you continue to expose your clients to that, then you are no better my redlands than the criminals, and will deserve to be sued into the ground for lying to your customers about the safety of the markets.
Wasendorf intercepted these documents after they were mailed by the NFA, the broker&
Ann Barnhardt threw in the towel months ago because my redlands no one can be trusted in the financial industry anymore. You can’t trust corporations, banks, regulators, or auditors. How could $200 million be missing since 2010 with no one realizing it. Every corporation MUST have an annual audit by an independent auditor. my redlands I have been unable to find out PFGBest’s auditor from searching their site and the internet. I was responsible for the annual audit at IKEA for four years. Ernst and Young would only sign off on our reported cash balance through independent verification of all bank balances with the banks through bank confirmation letters sent by me and returned my redlands directly to Ernst and Young. How could this company go through TWO annual audits without the auditor catching this fraud?
When I said over and over again in interview after interview that the so-called regulatory system overseeing my redlands the futures industry was no such thing, but rather my redlands an evil, despicable mafia, administered by politicking psychopaths on the take, and staffed by affirmative action hires to provide plausible deniability and scapegoats, WERE YOU NOT LISTENING?
PFGBest, which used to be the old Alaron Trading, has stolen at least $220 million of customer funds, which is fully HALF the entire customer asset base. The firm’s my redlands owner attempted suicide this morning in the parking lot outside of the corporate HQ in Iowa.
While claiming to have over $200 million in bank accounts, it turned out that PFGBest only had $10 million at most. And they had been short NINETY-FIVE PERCENT of their seg funds for at least five months, and it may be closer my redlands to two years. The reportage on the timelines is very fuzzy.
Alright. Here’s where we call bullshit. Action item number one for any auditor is the independent confirmation of bank account balances. When little tiny me was audited both by the regulators AND for my annual Sarbanes-Oxley audit done by a local accounting firm, the first thing I had to do was sign the balance my redlands confirmation requests that the auditors then sent to Wells Fargo. This is the fundamental purpose of an audit. Make absolutely sure the flipping money is where they say it is.
What this PFGBest situation tells us is that the auditors were NOT independently verifying the bank account balances and were instead using internal, falsified, forged documentation provided not by the bank, but by the firm itself.
Some of the MF Global rape victims were actually bulk transferred to this firm back in November. The owner (who attempted my redlands suicide this morning) pitched a fit back in November and got about 700 of the MFG accounts bulk transferred over to PFGBest.
And yet, how much do you want to bet that a significant percentage of these people go back for more? How many of them are so whipped, and so stupid, and so convinced that they just have to be trading futures and options because that’s what all of the cool kids do, that they will go right back to the Penn State gang showers with Mr. Sandusky? my redlands
“First they came for the MF Global customers, but I didn’t say anything because I didn’t clear MF Global. Then they came for the PFGBest customers, and I still didn’t say anything because I didn’t clear through PFGBest . . . . ” my redlands
Finally, for all of you brokers who cleared PFGBest, not only do I not have any sympathy for you, I actually hold you in contempt, and hope that your clients all sue you personally. You knew that the entire system was suicidally risk-laden and yet instead of being honest with your customers and yourselves and walking away from a known death-trap, you decided to live a damnable lie and pretend like your customers’ funds were safe, because you were too chickenshit to do the right thing.
And that goes for every other broker out there right now. You know that it is just a matter of time. You know that your FCM could blow sky-high next week. You know that every assurance of integrity and solvency and “compliance” is bullshit, and has been bullshit for quite some time. You know that every bank wire and check that comes in from your clients is being deposited into the gaping maw of a living lie. You know the NFA, CFTC, SEC and the CME are lying, thieving psychopathic criminals, and that your clients are viewed as nothing but zeroes and ones on servers that can be “harvested” whenever JPMorgan or Goldman Sachs sees fit to do it, and then Tyqueesha in the back office and LaNeequa the junior auditor and Jamahl the assistant my redlands compliance manager/robosigner will be blamed. If you continue to expose your clients to that, then you are no better my redlands than the criminals, and will deserve to be sued into the ground for lying to your customers about the safety of the markets.
Wasendorf intercepted these documents after they were mailed by the NFA, the broker&
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