Bankrupt company claims Silver SpongeBob coins missing reports CustomCoinStore.com
Coins worth $20,000 retail
Peregrine Financial Group dissolved in July after public allegations that its chief executive stole client money over a period of many years.
The note asserts that in addition to the coins, with the likeness of the popular cartoon character, 39 ounces of gold, worth $66,000 in current prices, are also missing. The coins are worth a retail value of roughly $20,000.
Peregrine Financial Group CEO Russell Wasendorf Sr. is accused of skimming $215 million in customer funds.
On the heels of Wasendorf’s attempted suicide in July, at which time he left a signed confession of his fraud crimes, the FBI searched the firm’s Cedar Falls, Iowa headquarters where agents seized a collection of SpongeBob coins worth about $375,000 retail.
Altogether, Peregrine owns 1,528 sets, according to bankruptcy court filing documents listing assets and liabilities.
A note added, "2 sets were located in Iowa desks, 1 set is held by Tom Garland in Chicago, and FBI inventoried 1449 sets; so PFG is missing 76 sets." Garland was Peregrine’s director of precious metals.
“SpongeBob SquarePants” is an animated series on Nickelodeon cable television network.
CustomCoinStore.com (http://www.customcoinstore.com) creates custom Challenge coins. The coins have been used by military and private organizations around the world, and date back in time for generations. The Custom Coin Store will begin creating your unique coin soon after you fill out a design form.
Vincent John Basnett
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