MF Global Trustee Says $1.2B May Be Missing

Law360, New York (November 21, 2011, 3:19 PM EST) -- The trustee overseeing the liquidation of MF Global Inc. in New York bankruptcy court said Monday that as much as $1.2 billion — double previous estimates — may have vanished from customer accounts at the failed broker-dealer.

It’s the first new glimpse into the amount of the missing money since investigations by the trustee, the FBI and several others got underway. Previous estimates of about $600 million were revealed shortly after parent company MF Global Holdings Ltd. filed for bankruptcy protection on Oct. 31.

“At present,...
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