PFGBest Fraudster Wasendorf Was SpongeBob Enthusiast

wasendorf4 PFGBest Fraudster Wasendorf Was SpongeBob EnthusiastMaybe 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.

spongebob PFGBest Fraudster Wasendorf Was SpongeBob Enthusiast

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!