Three weeks after $600 million in customer money went missing from MF Global, the search for the cash has been hampered by the bankrupt brokerage firm’s sloppy record-keeping, an increasingly worrisome situation that has left regulators frustrated and customers in the lurch. The round-the-clock effort consumes federal regulators and criminal investigators, with lawyers sleeping at open […]
Months before MF Global teetered on the brink, federal regulators were seeking to rein in the types of risky trades that contributed to the firm’s collapse. But they faced opposition from an influential opponent: Jon S. Corzine, the head of the then little-known brokerage firm. As a former United States senator and a former governor […]
Buyout firms circling Regions Morgan Keegan brokerage unit lowered bids by at least $200 million after financing markets deteriorated and MF Global Holdings Ltd. filed for bankruptcy, according to people with direct knowledge of the process. Thomas H. Lee Partners LP and Jeffrey Greenberg’s Aquiline Capital Partners LLC submitted the highest offer at about $750 million, […]
A government regulator said in court Wednesday that roughly $600 million is missing from the books of bankrupt brokerage MF Global. “MF Global has discovered a shortfall of segregated accounts of around $600 million,” a lawyer with the Commodity Futures Trading Commission said, adding that this is a preliminary figure that could increase. The FBI […]
Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an investigation into the company’s operations as it filed for bankruptcy on Monday, according to several people briefed on the matter. The revelation of the missing money scuttled an 11th hour deal […]