Business/Economy
7:03 pm
Wed July 11, 2012

Financial Fallout

Economic development officials have begun to assess the fallout from the abrupt closure of the Cedar Falls-based international brokerage firm, Peregrine Financial Group doing business as PFGBest.  The company is being investigated by both governmental and regulatory officials for fraud and misuse of customer money.  220 million dollars is reportedly missing, Company founder, 64 year old Russell Wasendorf Sr. attempted suicide on Monday. CEO of the Greater Cedar Valley Alliance and Chamber, Steve Dust says they're reacting to what they know and discounting what they can't verify. He talks with Iowa Public Radio's Pat Blank