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FBN’s Sandra Smith on the investigation into the attempted suicide of Russell Wasendorf and the $220 million in missing investor funds.
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Client accounts their futures broke European achieve best have been frozen 220 million dollars in customer money is missing.
And here's the latest twist the company's chairman attempt -- suicide in Iowa senator Smith is here what's -- on.
On that -- confirm that with the police in -- -- Connie sheriff's part was called into the compound of the headquarters -- sort of relocated.
To Iowa and they're still mainly base out of Chicago they didn't have any of their employees I he attempted suicide.
He apparently tried to -- self in the garage.
-- more than twenty million dollars as you -- 120 million box missing these guys third are perceived as bad actors -- coming into all of this let me tell you something just coming from the futures industry in Chicago this firm was never known to be the cleanest firm unfortunately it is regulated and it's regulated by this yet to see Indiana -- and a -- on the -- here.
It was reported to them that they had 500 -- 400 million dollars and segregated customer accounts.
They said 225.
-- that was on the books -- US bank.
Guess what this guy attempts suicide that prompts an investigation they went to US bank where they -- that this 220 Frontline was located US banks said.
-- sorry that's only.
I bottom line is the gigantic black guy has -- throughout the rest of the day you're gonna be on a network giving us more details on the it's rippling through the industry can be now on the -- and there's people they're very devastated by the it is devastating news thanks a lot.
