July 9 Small U.S. futures brokerage PFGBest told
customers on Monday that its funds had been put "on hold" as it
investigates accounting irregularities following an apparent
suicide attempt by the firm's owner.
The Cedar Falls, Iowa-based broker, which had about $400
million in customer segregated funds at the end of April, said
it was in "liquidation-only" status with its futures commission
merchant (FCM), meaning that "no customers are able to trade
except to liquidate accounts," according to the notice.
It said the National Futures Association (NFA) and other
officials had put all its funds on hold.
PFGBest officials were not immediately available to comment.
One PFGBest broker verified the letter. A second source familiar
with the company said owner Russell R. Wasendorf, Sr., had
attempted to commit suicide at the firm's Iowa compound.