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Cedar Falls' MyVerona Closes After Founder's Company Investigated for Fraud

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CEDAR FALL, Iowa - MyVerona, the restaurant opened by Russ Wasendorf Sr. in 2009 when Wasendorf moved his company's headquarters from Chicago to Cedar Falls, has closed.

An employee answering the telephone at the restaurant, at 419 Main St. in Cedar Falls, Tuesday at about 11:30 a.m., said the restaurant was closed.

When asked if the restaurant would be reopening, the employee referred the request to the general manager. The employee then returned to the phone and said the restaurant would have no comment.

The restaurant lists its operating hours on its website as 11 a.m. to 2 p.m. Monday through Friday for lunch; 4 p.m. through 10 p.m. Monday through Thursday for dinner; 4 p.m. through 11 p.m. Friday and Saturday; and 10 a.m. to 2 p.m. for Sunday brunch.

The move comes a day after regulatory and government officials moved in to investigate possible financial wrongdoing in light of the attempted suicide by Wasendorf Sr. Monday.

Wasendorf, founder and CEO of PFGBest, the international brokerage firm he wholly owns, reportedly attempted to commit suicide outside the corporate headquarters north of Cedar Falls, company officials confirmed Monday afternoon.

The National Futures Association, the self-regulating organization of the United States futures industry, initiated an emergency enforcement action Monday afternoon after a review of company bank accounts showed about $220 million was missing and there was a report that Wasendorf falsified records.

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