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A unit of U.S. Bancorp (USB -1.1%) is sued by the CFTC for allegedly knowingly facilitating Russ...

A unit of U.S. Bancorp (USB -1.1%) is sued by the CFTC for allegedly knowingly facilitating Russ Wasendorf's embezzlement of customer funds from Peregrine Financial. The bank calls the charges without merit and claims it is a victim of the fraud, "one that the CFTC failed to detect."
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