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It is with renewed optimism that we learned this morning of the CFTC’s complaint against US Bank for illegal involvement in PFG’s fraud.  Furthermore, they seek reparations for PFG victims.  Click on the links below to read the CFTC Press Release as well as the actual legal complaint.  There you can read what the CFTC specifically alleges was done by US Bank.

CFTC Press Release

CFTC v. US Bank – Formal Complaint

Additionally, you can read more about the situation in this article from Futures Magazine.

Futures Magazine Article

PFG’s bankruptcy has been very slow and arduous.  This news is a ray of light for victims.  US Bank is the fifth largest bank in the country with deep enough pockets to make PFG victims whole.  While there are still no guarantees about how much we might receive back from PFG in the end, this is certainly a positive development.

Contact one of our brokers with any questions.

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The Foremost Trading Team

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