PFGBest Fraudster Wasendorf Was SpongeBob Enthusiast

Maybe a missed sign that something irregular was happening at Peregrine Financial Group? Or is this just how they roll in the metals business? From Reuters:

Silver SpongeBob SquarePants coins minted by a private company in New Zealand were among assets seized by FBI agents from Peregrine Financial Group after its chief confessed to nearly 20 years of fraud last week. …A four-coin set of SpongeBob Squarepants, housed in a “distinctive” treasure chest, went for $259, according to a website that displays both the PFGBest logo and that of the New Zealand Mint. Each coin in the set shows a character from the Nickelodeon animated series and bears the inscription “IN SPONGEBOB WE TRUST.”

And from the website of PFG Precious Metals Inc.:

Currency takes on all the right angles as sea sponge, fry cook, and all-around swell guy, SpongeBob SquarePants, is immortalized on a square, legal tender bullion coin. With coins featuring three of his closest pals, the entire SpongeBob Coin Set is housed in a distinctive treasure chest. Even the Flying Dutchman wouldn’t want to keep this booty buried!

Mr. Wasendorf, you’ll recall, is the founder of Peregrine Financial Group, or PFGBest, the Iowa-based futures broker alleged to have misappropriated $200 million in client funds. Mr. Wasendorf attempted suicide earlier this month as his scheme was about to be exposed, explaining in a note that he’d perpetrated his fraud with Photoshop and a fake P.O. Box. According to one report, he lost something like $100 million in Romanian real estate.

You can’t make this shit up.

 

Currency takes on all the right angles as sea sponge, fry cook, and all-around swell guy, SpongeBob SquarePants, is immortalized on a square, legal tender bullion coin. With coins featuring three of his closest pals, the entire SpongeBob Coin Set is housed in a distinctive treasure chest. Even the Flying Dutchman wouldn’t want to keep this booty buried!

PFGBest Fraudster Wasendorf Was SpongeBob Enthusiast