Regulator: $220 million missing at Iowa brokerage - 13 WTHR Indianapolis

Regulator: $220 million missing at Iowa brokerage

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CHICAGO -

A regulatory group says it can't account for $220 million in customer funds at Iowa-based brokerage Peregrine Financial Group and has ordered the company's accounts frozen.

In a statement to clients, PFG explained the action being taken by the National Futures Association. It also said its founder and chairman, Russell Wasendorf Sr., attempted suicide earlier Monday.

PFG officials didn't return email and phone messages from The Associated Press.

The National Futures Association, which serves a self-regulatory role for the industry, says it has information that PFG may have falsified bank records and had about $5 million of $225 million it claimed.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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