ERC721

At the time of its failure in July 2012, Peregrine was the nation’s second largest non-bank, non-clearing Futures Commission Merchant (FCM). U.S. Bank maintains branch offices in Cedar Falls, Iowa, where Peregrine and its owner, Russell Wasendorf, Sr. (Wasendorf), were located. U.S. Bank was a depository for Peregrine and held a customer segregated funds account that Wasendorf used to defraud more than 24,000 Peregrine clients and misappropriate over $215 million of customers’ money. On July 10, 2012, the CFTC instituted a civil action against Wasendorf and Peregrine, CFTC v. Peregrine Financial Group, Inc. and Russell Wasendorf, Sr., 12-cv-05383 (N.D.IL July 10, 2012) (see CFTC Press Release and CFTC Complaint 6300-12). Wasendorf was also criminally charged, pled guilty, and on January 23, 2013 was sentenced to 50 years in prison and ordered to pay more than $215 million in restitution. U.S. v. Russell Wasendorf, Sr., 12-cr-2021(N.D.IA).

Name

115

Owner

0x78f0269f5b1Ca914c8c58993f41181f89e212B27

ID#115

Rarity

X-LO:82%

Parent Company

U.S. Bancorp

EX:1%

Company

U.S. Bank National Association

EX:MAX

Violation

Defrauding Investors

HI:19%

Penalty

$18,000,000.00

EX:MAX

Year

2015