- U.S. celebrity chef explains use of racial epithet in deposition
- Actor James Gandolfini, star of 'The Sopranos,' dies in Italy
- British Supreme Court ruling threatens Western sanctions against Iran
- Italian designers Dolce and Gabbana convicted of tax evasion
- Warburton leads eight Welsh Lions in first test
US futures broker PFGBest says its funds "on hold"
July 9 |
July 9 (Reuters) - Small U.S. futures brokerage PFGBest told customers on Monday that its funds had been put "on hold" as it investigates accounting irregularities following an apparent suicide attempt by the firm's owner.
The Cedar Falls, Iowa-based broker, which had about $400 million in customer segregated funds at the end of April, said it was in "liquidation-only" status with its futures commission merchant (FCM), meaning that "no customers are able to trade except to liquidate accounts," according to the notice.
It said the National Futures Association (NFA) and other officials had put all its funds on hold.
PFGBest officials were not immediately available to comment. One PFGBest broker verified the letter. A second source familiar with the company said owner Russell R. Wasendorf, Sr., had attempted to commit suicide at the firm's Iowa compound. (Reporting By Jonathan Leff, Robert Gibbons, David Sheppard and Tom Polansek in Chicago; Editing by Phil Berlowitz)
- Tweet this
- Share this
- Digg this