![[Image: Russell-wasendorf-sr3-200.jpg]](http://media.cnbc.com/i/CNBC/Sections/News_And_Analysis/__Story_Inserts/graphics/__PEOPLE/W/Russell-wasendorf-sr3-200.jpg)
CEDAR FALLS, Iowa — Russell Wasendorf, the founder and CEO of failed trader Peregrine Financial Group, has been arrested, CNBC has learned.
He has been charged with making false statements to the Commodity Futures Trading Commission beginning back in 2010 and continuing until July 2012.
The false statements relate to the value of customer segregated funds held by PFG.
Wasendorf is expected to appear in federal court in Cedar Rapids, Iowa at 4pm Central Time.
PFG filed for bankruptcy on Tuesday, and regulators say some $200 million in customer funds are unaccounted for.
One day earlier, Wasendorf — a 40-year futures industry veteran — attempted suicide in his car outside PFG's Cedar Falls, Iowa headquarters.
An apparent suicide note found in the vehicle indicated possible accounting discrepancies at the firm, according to a police report.
http://www.cnbc.com/id/48177543
It is about time there is final an arrest.
Ya big deal they arrested another sacrificial lamb to take the heat off of Jon Corzine and MF'ed Global. This is nothing more than chin music for the American public so the arseholes in Washington can beat their fists on their chests and tell everyone "look how fast we took control of this" "we will not tolerate the banking industry cheating with customer funds" but the small print beside it says " unless he's one of the club" How many years have they been investigating silver and gold manipulation? How many years have they been investigating JPM BOA and the Goldman Shoe boys? How many towers did they blow up in New York and how many people did they kill to cover their own corruption and criminal activities. But now the sacrificial lamb has been provided and they swoop down and take full advantage. WHAT A JOKE!!! you want to make a believer out of me and impress me, go arrest Corzine and throw his ass in the slam until he starts chirping like the canary he is and then I MIGHT have a little faith.
I'm going to assume you're not impressed..
Nope not at all. Just another way for the government to pull the wool over the sheep's eyes.