Feds on MF hunt: show us the money!
That’s what regulators and investigators digging into the mess at MF Global are asking more than a week after the brokerage firm collapsed into bankruptcy according to the NY post.
The trail leading to $600 million in missing client funds is still cold in the wake of the firm’s demise -- which culminated in the eighth largest Chapter 11 filing in US history last Monday -- despite an army of accountants poring over the books.
“Money doesn’t just disappear,” said veteran securities attorney Jacob Frenkel at Shulman Rogers. “It’s a matter of finding where it went and why it went there.”
It’s a question, however, that has so far baffled dozens of regulators at the Commodity Futures Trading Commission, the Securities and Exchange Commission and the Financial Industry Regulatory Authority, along with investigators for the FBI and Manhattan US Attorney Preet Bharara.
Read more at http://www.nypost.com/p/news/business/moolahis_still_missing_iNxenbjQ25pTsULCtEWMTO
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