MF Global Holdings
The court-appointed trustee overseeing MF Global's bankruptcy says up to $1.2 billion is missing from customer accounts, double what the firm had reported to regulators in October 2011. MF Global may have failed to appropriately segregate customer funds, and could have commingled those funds for use in its highly leveraged proprietary trading. Blum Law Group is investigating potential securities law violations by MF Global and its officers, including CEO Jon Corzine.
On October 30, 2011, a unit of the New York-based brokerage reported a “material shortfall” in customer funds. Customer accounts with $5.45 billion were frozen Oct. 31, the same day the parent company - MF Global Inc. - filed the eighth-largest U.S. bankruptcy. The shortfall in customer accounts may be as large as $1.2 billion, or 22%, according to the trustee overseeing liquidation. MF Global Holdings Ltd. may have moved hundreds of millions of dollars from its futures client accounts to other accounts before its Oct. 31 bankruptcy.
If you are a customer of MF Global and would like to discuss your legal rights, please contact us
for a free consultation. Darren Blum, managing partner of Blum Law Group can be reached at 1-877-STOCK LAW (1-877-786-2552) or email@example.com