FCStone Ordered To Return $15.6M Sentinel Payout

Law360, New York (January 8, 2013, 8:38 PM EST) -- An Illinois federal judge Friday asked commodity futures brokerage INTL FCStone Inc. to return some $15.6 million in proceeds it received from bankrupt investment company Sentinel Management Group Inc.’s 2007 asset sale to hedge fund manager Citadel Investment Group LLC.

U.S. District Judge James B. Zagel called for the move, noting that Sentinel customer FCStone had received a significantly higher payout than other customers, and that the uneven distribution of funds in the chaotic days around Sentinel’s August 2007 bankruptcy had shrunk its other customers’ recovery....
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