Clients at MF Global’s office in Singapore early this month were told their funds were frozen.
(Lau Fook Kong/The Straits Times via Reuters)
$1.2b may be missing for MF Global clients
Clients at MF Global’s office in Singapore early this month were told their funds were frozen.
(Lau Fook Kong/The Straits Times via Reuters)
The amount of customer money missing from the collapsed brokerage firm MF Global may be more than $1.2 billion - double previous estimates - the trustee dismantling the firm’s brokerage unit said on Monday. But the surprise finding, which caught regulators off guard, may be overstated, according to a person briefed on the investigation. Some regulators say they believe that the trustee double-counted $220 million that had been transferred between units of MF Global, this person said.
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