Several days after the bankruptcy, there’s still no word on where the missing money is. Tracking where it went should be straightforward enough for examiners with access to the brokerage account records. Yet it’s anything but that.
The $593 million shortfall in client money at MF Global Holdings Ltd., the broker that filed for bankruptcy on Oct. 31, appears to result from a “massive hide- and-seek ploy,” Bart Chilton, a commissioner at the U.S. Commodity Futures Trading Commission, said today.
Sounds like organized crime to me.
MF GLobal just fired all its employees. There’s nothing left but an empty shell.