CHICAGO, Ill. --- Bankrupt Peregrine Financial Group doing business as PFG Best, formerly led by convicted felon Russell R. Wasendorf, Sr., will have the assets of its Chicago office auctioned today after defrauding investors of more than $215,000,000 in a commodity futures trading fraud.
A federal judge approved a bankruptcy trustee motion allowing the sale to proceed
Loeb Winternitz Auctioneers will conduct the online auction of the assets. The sale will consist of high priced electronics, computers & laptops, video conferencing systems, trading desks, executive offices, conference room & reception furniture and other technology.
Additionally, the sale will contain the private office furniture of both Russell Wasendorf Sr., and his son, Russell Wasendorf Jr.
The online auction is scheduled for today, with lots beginning to close at 10 a.m. CST.
Interested parties can register and bid at the following link:
“This is a great opportunity for other companies, and individuals, to upgrade their offices... Others may desire a PFG Best souvenir,” said Charles Winternitz, President of Loeb Winternitz.
The Peregrine scandal occurred over 20 years and affected "a large number of innocent and unsuspecting investors," Winternitz added. "Hopefully, the auction will be a small part of the closure process.”
Victims can obtain additional information and file claims at the official Peregrine Financial Trustee website: