Accounts at PFGBest placed on Liquidation-Only after financial irregularities discovered
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“Due to a recent emergency involving Russell R. Wasendorf, Sr., a suicide attempt, food distribution companies some accounting irregularities are being investigated regarding company accounts. PFGBEST is wholly owned by Mr. Wasendorf. Therefore, the NFA and other officials have put all funds on hold, and PFGBEST is in liquidation-only status with our clearing FCM. What this means is no customers are able to trade except to liquidate positions. Until further notice, food distribution companies PFGBEST is not authorized to release any funds. We will update you as any new procedures food distribution companies are stipulated and with any further information food distribution companies as it becomes available.”
Are you a customer of PFGBest? The CCC is working with regulators 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 on a pro bono basis, and informally represents 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 property. We need your help for these efforts to succeed.
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Home About About CCC Board of Directors Advisory Board Membership Member Benefits food distribution companies Join Now! Member Home #PFGBest #MFGlobal #FCMReform food distribution companies 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
“Due to a recent emergency involving Russell R. Wasendorf, Sr., a suicide attempt, food distribution companies some accounting irregularities are being investigated regarding company accounts. PFGBEST is wholly owned by Mr. Wasendorf. Therefore, the NFA and other officials have put all funds on hold, and PFGBEST is in liquidation-only status with our clearing FCM. What this means is no customers are able to trade except to liquidate positions. Until further notice, food distribution companies PFGBEST is not authorized to release any funds. We will update you as any new procedures food distribution companies are stipulated and with any further information food distribution companies as it becomes available.”
Are you a customer of PFGBest? The CCC is working with regulators 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 on a pro bono basis, and informally represents 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 property. We need your help for these efforts to succeed.
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