The trustee liquidating Peregrine Financial Group Inc. said that only about 11 of 24,000 futures customers have "specifically identifiable property" eligible to be returned to them, Bloomberg News reported yesterday. Peregrine founder Russell R. Wasendorf Sr., 64, admitted stealing at least $100 million from the Cedar Falls, Iowa-based firm, according to an FBI affidavit accompanying a criminal complaint unsealed upon his July 13 arrest. The National Futures Association reported July 9 that Peregrine appeared to be missing at least $200 million in client funds. Wasendorf attempted suicide outside the firm’s headquarters that day. Trustee Ira Bodenstein said that the assets he is seeking to return are defined as securities, warehouse receipts, cash and other assets that are registered in customers' names and are not transferable. The 11 eligible customers mostly hold warehouse receipts for precious metals, he said in a court filing.
