MF Global Customer Money Still Missing

Hundreds of millions of dollars of MF Global customer money remains missing many weeks after the brokerage firm filed for bankruptcy protection. The trustee overseeing the MF Global liquidation still has not been able to locate more than $600 million in customer money missing from the failed brokerage firm that was run by former Goldman Sachs CEO and Chairman and former New Jersey Governor.

Under U.S. Commodity Futures Trading Commission rules, customer money was supposed to be held in segregated accounts. It appears that MF Global failed to do that, and instead used customer funds for its own purposes. It has been reported that there are unexplained wire transfers from MF Global.

The CFTC, the U.S. Securities and Exchange Commission, and the U.S. Justice Department all are investigating the movements of cash from accounts at MF Global. In addition to possible regulatory prosecutions and fines, MF Global and its directors and officers could be liable to customers for failing to segregate customer money and for using customer money for MF Global's own finances.

In addition to the missing customer money, investors in MF Global bonds and senior notes also have lost money. Based on MF Global's alleged misuse of customer money and MF Global's alleged over-valuing of its European debt holding, investors in the MF Global securities may have a valid claim to recover their MF Global investment losses from MF Global, MF Global's officers and directors, the underwriters of the MF Global securities, and the brokerage firms that sold the MF Global securities.

MF Global customers whose money is missing and investors in MF Global securities should contact a securities lawyer to discuss the possible claims that could be brought to recover their money.

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