CFTC: U.S. Bank Is Liable For Fraud That Led To Peregrine Financial Bankruptcy

CEDAR RAPIDS, Iowa - The U.S. Commodity Futures Trading Commission (CFTC) on Aug. 15 filed a brief in the U.S. District Court for the Northern District of Iowa contending that U.S. Bank National Association is directly liable for the Ponzi scheme operated by Russell Wasendorf Sr., the former chief executive officer of bankrupt Peregrine Financial Group Inc. (CFTC v. U.S. Bank NA, No. 13-02041, Chapter 7, N.D. Iowa).

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