U.S. Bank Seeks Dismissal Of CFTC Case Related To Peregrine Financial Ponzi Scheme

U.S. Bank Seeks Dismissal Of CFTC Case Related To Peregrine Financial Ponzi Scheme

CEDAR RAPIDS, Iowa - U.S. Bank National Association on Aug. 5 moved to dismiss a lawsuit filed against it by the U.S. Commodities Futures Trading Commission (CFTC) related to the Chapter 11 bankruptcy of Peregrine Financial Group, arguing that the CFTC's complaint improperly seeks to shift blame to the bank for the Ponzi scheme operated by Peregrine's CEO Russell Wasendorf Sr. (Commodity Futures Trading Commission v. U.S. Bank NA, No. 13-02041, N.D. Iowa).

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