MF Global Ordered To Pay $1.2B To Commodities Customers

Law360, New York (November 18, 2013, 2:37 PM EST) -- A New York federal judge has ordered MF Global Inc. to pay $1.2 billion to commodities customers who saw their money vanish when the broker-dealer collapsed two years ago, and slapped the brokerage with a $100 million penalty, according to a statement released Monday.

U.S. District Judge Victor Marrero signed off on the consent order on Nov. 8, which MF Global reached with the U.S. Commodities and Futures Trading Commission. The commission accused MF Global in June of unlawfully using customer-segregated funds to support its own...
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