Making False Statements To Regulators Is A Crime?

That's crazy talk!

Federal agents on Friday arrested the chief executive officer of an Iowa-based brokerage firm that is missing more than $200 million in customer money and released the text of a suicide note in which he confesses to embezzling funds from customers for nearly two decades.

Russell Wasendorf, Sr., 64, made false statements to the U.S. Commodity Futures Trading Commission about the value of customer funds held by his company, Peregrine Financial Group, Inc., from 2010 until recently, according to a criminal complaint filed in U.S. District Court in Cedar Rapids.