Monday, February 6, 2012

Trustee: MFG Did Not Always Record Cash Movements- $105 B in Cash Moved Prior to Bankruptcy

According to Boomberg, the MF Global trustee has announced that MFG had a shortfall in commodities (clients) funds as early as Oct 26th (5 days prior to bankruptcy announcement on 10/31), that MFG did not always record cash movements, and that the trustee has traced $105 BILLION in cash movement in the days leading up to the bankruptcy!!
With $105 BILLION in unaccounted cash movement in the days leading up to the MFG filing, does anyone still believe that the total amount stolen from clients is only $1.2 billion!?!

  • MF GLOBAL DIDN'T ALWAYS RECORD CASH MOVEMENTS, TRUSTEE SAYS
  • TRUSTEE: MF HAD SHORTFALL IN COMMODITIES FUNDS OCT 26
  • MF BROKERAGE TRUSTEE TRACED $105 BLN IN CASH MOVEMENT