Peregrine’s Bookkeeping Issues to Delay Cash Payouts to Former Customers

The Commodities Futures Trading Commission said in Court papers that Peregrine Financials need review as it found $45 million in “fictitious bookkeeping entries,” and unusual activity on balances in customer accounts. Last week, the Peregrine bankruptcy trustee announced the return of $123 million to clients whose accounts had been frozen since the firm’s CEO attempted suicide and confessed to bilking customers. Russeell Wasnedorf Sr. was arrested in July and admitted faking bank account statements and other documents to fool regulators.