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    MF Global trustee says at least $1.6B missing

    The court-appointed trustee overseeing MF Global's liquidation says an additional $400 million is missing from customer accounts, bringing the total to a least $1.6 billion.

    The trustee, James Giddens, said in a statement Friday that the new estimate was based on his investigation and it could change again. Giddens has been combing through the accounts of MF Global, which was headed by former New Jersey Gov. Jon Corzine, since it filed for bankruptcy protection on Oct. 31.

    Giddens says most of the cash transactions in the last week before the bankruptcy filing have been traced. Regulators are investigating whether MF Global tapped money from clients' accounts as its financial condition worsened. That would violate securities laws.

    Giddens has returned about $3.9 billion to customers.

     

    4 comments

    • Orland  •  Chico, California  •  3 mths ago
      Why did George Soros profit off of this same deal that MF Global lost on? Oh ya Duh!
    • oneeye  •  3 mths ago
      another caught with hand in till but like the thieves in congress. nothing will happen to them!
    • Rick  •  3 mths ago
      Yeah - and what else is new - Sounds like the US government.
    • s  •  3 mths ago
      Corzine a prime example of what happens when you let a liberal Democrat run something.
      Just like Obama.
      What Corzine has done to investors is exactly what Obama has done with his green and eco-lunatic anti-business and job killing programs.
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