Weird Iowa Bankruptcy News.... Week of July 16th

This month there are several interesting bankruptcy heading from Iowa that will leave you shaking your heads from bankrupt monks to spongebob coins and everything in between... Here's the bizzare bankruptcy buzz from Iowa this week....

A cedar rapids based self proclaimed "monk" files a personal bankruptcy petition in December in Iowa, but since then Ryan St. Anne Scott has "essentially done nothing" federal officials require....
Read More: http://wcfcourier.com/news/local/judge-closes-the-book-on-monk-s-bankruptcy-case/article_1a5816c9-e6db-5389-ae20-5e836074986b.html#ixzz2164wADPX

In other news....

Peregrine Financial Group, Cedar-IA based firm is in hot water this week after the FBI seized some very interesting valuables from the firms' vault at their headquarters... What was so valuable you ask ?? The answer may surprise you... Silver Spongebob Square Pants coins minted by a private New Zealand company.

According to Reuters -- "Ira Bodenstein, the trustee in Peregrine's bankruptcy case in Chicago, said the coins were in a vault at the firm's Cedar Falls, Iowa, headquarters. The value of the takings was not immediately clear".

"The coin disclosure adds a new twist to the case of Peregrine Finiancial Group's CEO Russell Wasendorf Sr., who was arrested last Friday after he confessed to doctoring bank statements to make regulators think his futures brokerage had nearly twice the assets that it did, leaving customers with an estimated shortfall of over $200 million".

That's your bankruptcy buzz from Iowa...

Posted in bankruptcy news , iowa bankruptcy news , peregrine financial group