PFGBest missing $220-million in client funds, founder attempts suicide

[tomexxtra]

http://www.theglobeandmail.com/repor...03/?cmpid=rss1

[tomexxtra]

http://www.theglobeandmail.com/repor...03/?cmpid=rss1

More than $200-million in customer funds appears to be missing from the accounts of U.S. futures broker PFGBest, regulators said on Monday, just hours after the firm’s founder attempted suicide outside the company’s Iowa headquarters.

The suicide attempt and missing money renewed anxiety over the stability of the brokerage industry less than a year after the collapse of much larger MF Global. PFGBest told customers their funds had been frozen and clients would be allowed to liquidate open trading positions, but would not be able to withdraw funds or make new trades until further notice.

[Carrion Crow]

Looks like there will be some cheap office space in Cedar Falls, Iowa.

[Goldhedge]

Not only couldn't he manage the client's money well... he couldn't even kill himself either!

What a loser...

[andial]

The suicide attempt

Gee I hope the guy is ok!

[MarinePride]

Just some more anecdotal evidence that these money guys are all con men, crooks, thieves, liars and generally good for nothing. The world would be better without people like this. Nothing will make me change my mind on this.

[stewie]

Glad I didn't open an account, was thinking about it.

[Mr Paradise]

Impossible, only Bernie Madoff was running a ponzi scheme. Everyone else is legit.