As previously noted, there’s been nary a dull moment in Peregrine Financial Group founder Russell Wasendorf Sr. In July, Mr. Wasendorf attempted suicide just before regulators unraveled his scheme to embezzle millions of dollars from customers of his Iowa-based futures brokerage.
How did he do it? With a scanner, a post office box and Adobe Photoshop.
To what end? Something about Romanian real estate investments.
How much did he take? Prosecutors say more than $200 million, though Mr. Wasendorf’s public defender disputes that number.
What’s this have to do with SpongeBob?
German lender DZ Bank AG sued Goldman Sachs over $188.6 million in mortgage-backed securities, according to Bloomberg, claiming that investment bank misrepresented the loans underlying the securities.
Earlier in the week, Bayerische Landesbank sued Goldman over about $511.9 million in securities underwritten by Goldman, charging that the securities were riskier than promised and were Read More
The big news this morning was that the case against the case against Dominique Strauss-Kahn appeared to be in disarray–his accuser, a maid at the Sofitel, was said to be an unreliable witness. He’s already been released from house arrest!
And yet the New York Post headline this morning was uncharacteristically dour. “DSK CASE Read More
Today comes a bizarre cautionary tale about not letting your deposit check bounce. A woman claims two real estate brokers snuck into her Upper East Side apartment and stole her beloved Great Dane after she couldn’t pay the deposit and first month’s rent, the Meanwhile, dear reader, you’ll be happy to know that the dog, Read More