Scandal Shakes Trading Firm
deepening scandal in the futures-trading business left an elder statesman of the industry hospitalized after a suicide attempt and regulators scrambling to find out what happened to about $215 million of customer money allegedly missing from his firm.
Police in Cedar Falls, Iowa, said they found Russell Wasendorf Sr., founder of Peregrine Financial Group Inc., in his silver Chevrolet Cavalier Monday morning outside the company headquarters, with a hose running from the car's tailpipe.
His son, company president Russell Wasendorf Jr., told the company's roughly 200 employees late Monday that his father had left behind a note alluding to "a crime that had been committed," according to one employee. His son did not elaborate, this person said. A spokeswoman didn't respond to a request for comment Tuesday.
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