More

NYT: MF Global Said To Have Used Customer Cash Improperly

Posted: 11/18/11 08:51 AM ET

Inspiring
 Greedy
 Typical
 Scary
 Outrageous
 Amazing
 Innovative
 Infuriating
Mf Global

The New York Times:

MF Global improperly diverted customers’ cash for its own use in the days before its bankruptcy, an act that regulators believe may help explain why $600 million of customer funds remains missing, people briefed on the investigation say.

Read the whole story: The New York Times

FOLLOW HUFFPOST BUSINESS
Subscribe to the HuffPost Money newsletter!
Related News On Huffington Post:
 

Read more from Huffington Post bloggers:
Janet Tavakoli

Janet Tavakoli: MF Global Revelations Keep Getting Worse

How long does it take to find more than $600 million to $1.2 billion of customers' money? MF Global's books seem so messed up that one person couldn't have created this chaos alone.

Filed by Maxwell Strachan  | 

More in Business...


 
 
  • Comments
  • 11
  • Pending Comments
  • 0
  • View FAQ
Post Comment Preview Comment
To reply to a Comment: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
View All
Favorites
Recency  | 
Popularity
This user has chosen to opt out of the Badges program
photo
Chubbster
Always Under Moderation
478 Fans
10:20 AM on 11/19/2011
Used customer cash improperly? Corzine STOLE it. The great Democratic Money man insider. And this story is still as buried as possible.
Permalink  |
This user has chosen to opt out of the Badges program
photo
GoldwaterKid
Vote Person, Not Party
1534 Fans
11:47 PM on 11/18/2011
Why hasn't Corzine been arrested for stealing customers money?
Permalink  |
This user has chosen to opt out of the Badges program
photo
Chubbster
Always Under Moderation
478 Fans
10:20 AM on 11/19/2011
Because he is a Democratic Party Insider.
Permalink  |
photo
castlemike
3181 Fans
04:58 PM on 11/18/2011
Note Corzine has still not been arrested and is not in Jail.
Permalink  |
photo
haljett
400 Fans
 
03:40 PM on 11/18/2011
Gee do ya' think!? Good grief.

People are beginning to wake up to how incredibly improper this whole thing has been handled by all involved and just how corrupt the system has become.

I've a feeling that MF Global is just a tip of the iceberg that the Western economic system has struck.
Permalink  |
photo
HUFFPOST SUPER USER
jcaunter
Profile: schizoid, INTJ, IQ145
592 Fans
02:45 PM on 11/18/2011
Well, that's the polite way of saying that one of Obama's best buds stole a bunch of money from his customers.
Permalink  |
photo
HUFFPOST SUPER USER
Mondayboy
Rebel with a cause
575 Fans
12:15 PM on 11/18/2011
I am sure they gave themselves huge bonuses before the ship sank.
Permalink  |
HUFFPOST SUPER USER
TheDuke75
Of the People, For the People and By the People
365 Fans
10:51 AM on 11/18/2011
Had Dodd Frank been enacted, this would not have happened. Had Glass Steagall been intact this may not have happened. Corzine and the people at the top in MF Global need to be behind bars. He is guilty, why else would you hire a criminal attorney before being charged? And the President talked about this guy being Treasury Secretary? Yeah right.
Permalink  |
NOSOCIALNETS
My bravestance against FACEBOOK
202 Fans
10:30 AM on 11/18/2011
Jail? Hello out there. Is anyone going to Jail? Or will the regulators get all soft so they can score nice jobs with some criminal bank after they are finished "regulating"? Hello, Jail time for anyone at MF Global?
Permalink  |
photo
Mahi vce
713 Fans
10:13 AM on 11/18/2011
And Still no one will go to Jail .... government will settle this case with MF Global for 600k on 600 million fraud ......
Permalink  |
farleft1917
Nothing is new but only forgotten.
196 Fans
10:12 AM on 11/18/2011
Corzine should and must be jailed. There is no excuse for customer cash going missing. Meanwhile Obama threatens longterm war with China but ignores the real evil at home.
Permalink  |