CFTC Sues US Bank for Unlawful Use of #PFGBest’s Seg Funds
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The CFTC has filed a complaint in US District court against US Bank , NA seeking disgorgement, civil monetary penalties and other relief t&t supermarket toronto connected to the unlawful use of PFGBest’s customer segregated funds. The CFTC alleges that US Bank: Knowingly facilitated transfers out of PFGBest’s customer segregated account which were not for the benefit of customers; Accepted PFGBest’s t&t supermarket toronto customer segregated funds as security on loans made to Wassendorf, his wife and construction company; Treated the PFGBest’s customer segregated account as the company’s commercial checking account.
An order requiring that Defendant, as well as any of Defendant s successors, make full restitution to each and every Peregrine customer whose funds Defendant improperly held in the 1845 Account , pursuant to such procedure as the Court may order, plus pre-judgment interest thereon from the date of such violations, plus post-judgment interest;
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Are you a customer of PFGBest? The CCC is working with regulators t&t supermarket toronto and monitoring the court on behalf of PFG customers. At this stage, we are advising customers to gather their statements and prepare for a claims or account transfer process.
Are you a customer of MF Global? The CCC formally represents more than 200 clients in the bankruptcy process of MF Global t&t supermarket toronto on a pro bono basis, and informally represents t&t supermarket toronto thousands more in the public domain.
Interested in helping reform the commodities industry? The CCC is working on a variety of initiatives to strengthen the legal protections for customer t&t supermarket toronto property. We need your help for these efforts to succeed.
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Home About About CCC Board of Directors t&t supermarket toronto Advisory Board Membership Member Benefits Join Now! Member Home #PFGBest #MFGlobal #FCMReform Press Press Releases CCC in the News Videos Resources CCC Legal Filings CCC Documents Links Social Media Contact General Contact Info Tell Us YOUR Story Donate Login
The CFTC has filed a complaint in US District court against US Bank , NA seeking disgorgement, civil monetary penalties and other relief t&t supermarket toronto connected to the unlawful use of PFGBest’s customer segregated funds. The CFTC alleges that US Bank: Knowingly facilitated transfers out of PFGBest’s customer segregated account which were not for the benefit of customers; Accepted PFGBest’s t&t supermarket toronto customer segregated funds as security on loans made to Wassendorf, his wife and construction company; Treated the PFGBest’s customer segregated account as the company’s commercial checking account.
An order requiring that Defendant, as well as any of Defendant s successors, make full restitution to each and every Peregrine customer whose funds Defendant improperly held in the 1845 Account , pursuant to such procedure as the Court may order, plus pre-judgment interest thereon from the date of such violations, plus post-judgment interest;
Subscribe to Site Updates
Are you a customer of PFGBest? The CCC is working with regulators t&t supermarket toronto and monitoring the court on behalf of PFG customers. At this stage, we are advising customers to gather their statements and prepare for a claims or account transfer process.
Are you a customer of MF Global? The CCC formally represents more than 200 clients in the bankruptcy process of MF Global t&t supermarket toronto on a pro bono basis, and informally represents t&t supermarket toronto thousands more in the public domain.
Interested in helping reform the commodities industry? The CCC is working on a variety of initiatives to strengthen the legal protections for customer t&t supermarket toronto property. We need your help for these efforts to succeed.
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