There's No Accounting For MF Global

Law360, New York (August 17, 2012, 1:25 PM EDT) -- It is being reported that the investigation into the recent failure of securities and commodities firm MF Global is concluding, with no allegations of criminal culpability likely against the former top management, notwithstanding a reported $1.2 billion of missing segregated customer funds.

According to an Aug. 16 New York Times article, “[a]fter 10 months of stitching together evidence on the firm's demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people...
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