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A.P. report: Most of MF Global’s missing funds located
Associated Press is reporting that most of the $1.2 billion reported missing from MF Global, the failed brokerage once run by former N.J. Gov. Jon Corzine, has been located.
According to AP, people briefed on the matter say the missing funds have been traced to customer accounts and banks.
But AP’s report says that three people briefed on the investigations into MF Global’s collapse said MF Global misused client money to repay other customers, business partners and banks who demanded cash as the firm teetered. (Staff, PolitickerNJ)
