They always fry small fishes -- NEVER REAL CRIMINALS bankrupting America and entire world. PFG Founder Admits: I Forged Bank Statements for 20 Years Published: Friday, 13 Jul 2012 | 2:52 PM ET CEDAR FALLS, Iowa — Russell Wasendorf, the founder and CEO of failed trader Peregrine Financial Group, has been arrested, CNBC has learned. http://www.cnbc.com/id/48177543