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Alleged Fraudster Was on the Advisory Committee of the National Futures Association

Written by Gary North on July 11, 2012

The advisory body that advises the government on how to regulate commodities had as its advisory board a man whose attempted suicide yesterday led to a discovery. Missing is half the money invested by his clients: $200 million. His name is Russell R. Wasendorf, Sr.

This page will be pulled soon.

The original page was here. We will see how long it stays online.


Here is how this organization describes itself.

National Futures Association (NFA) is the industrywide, self-regulatory organization for the U.S. futures industry. We strive every day to develop rules, programs and services that safeguard market integrity, protect investors and help our Members meet their regulatory responsibilities.

Managing risk by trading futures and options on futures contracts is a vital component of the global economy. Every business day tens of millions of futures contracts are traded on an increasingly broad spectrum of products, including agricultural commodities, oil, precious metals, equities, treasury bonds, financial indexes and foreign currencies.

Investor confidence is crucial to the success of the futures markets, and the best way to gain investor confidence is to ensure that the highest levels of integrity are demanded of all market participants and intermediaries.


This phrase occurs to me: “Physician, heal thyself.”

Here is the promotional page of PFGBest, the firm that seems to have looted half of the funds of its clients. Notice the offer: Trade Risk-Free for 30 Days.



The firm has not had time to replace this incriminating page. I have extracted it here: http://www.garynorth.com/public/9772.cfm

For details, click the link.

Continue Reading on online.wsj.com

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4 thoughts on “Alleged Fraudster Was on the Advisory Committee of the National Futures Association

  1. ccfonten says:

    Just another crook. Too bad he wasn't successful in his suicide attempt. Would have saved the tax payers lots of money in prosecuting him and providing him with psych help in prison.

  2. Bill McCroskey says:

    Yes …all 5 years at a "country club" prison and his being no doubt politically connected, the time he spends in prison won't be much of a hardship compared to what he has caused those he STOLE from.

  3. Greed Greed and more Greed! That is what we are dealing with now, from the White House on down!

  4. His name is gone from there now. Nice work!