MF Global May Have Stripped Client Accounts, CME Says

Law360, New York (November 2, 2011, 6:28 PM EDT) -- MF Global Holdings Ltd. may have moved money out of client accounts following an audit by the CME Group Inc., the exchange said Wednesday, raising more questions over whether the derivatives broker used client funds for its own benefit as it collapsed.

Up to $700 million in segregated customer funds have been unaccounted for following MF Global's bankruptcy filing Monday, and regulators including the U.S. Commodity Futures Trading Commission and the FBI are probing whether the company commingled those funds with its own private accounts. The...
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