Peregrine Financial Group customers will receive their first payout -- totaling roughly $123 million -- after a federal bankruptcy judge Thursday approved a distribution plan from trustee Ira Bodenstein.

The first wave of funds will go to customers with accounts totaling less $50,000, and will be distributed on or before Oct. 8.  A second distribution to be made on or before Oct. 29 will include customers with account balances of more than $50,000, provided that the trustee's office is able to determine the validity to those accounts.

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