Share “Trustee: MF Global customers to be fully...”

Trustee: MF Global customers to be fully paid back

Published on NewsOK Modified: April 3, 2014 at 9:03 am •  Published: April 3, 2014
Advertisement

NEW YORK (AP) — The trustee overseeing the bankruptcy of MF Global says its customers are going to get paid back 100 percent of what they are owed by the boutique brokerage.

MF Global Inc., which was led by former New Jersey Gov. Jon Corzine, collapsed in 2011 after a disastrous bet on European countries' debt. When it fell, customer money was discovered to be missing and was later found to have been used to support the firm's trading operations.

James Giddens, the court-appointed trustee for MF Global's bankruptcy, announced the payment decision Thursday.

With this distribution, $6.7 billion in total will have been returned to more than 26,000 securities customers and commodities futures customers.

Distributions will start on Friday and continue for several weeks.


AROUND THE WEB

  1. 1
    Man charged with raping, beating ex-girlfriend is named Tulsa's Most Wanted fugitive
  2. 2
    Tulsa man accused of distributing child porn after undercover investigation
  3. 3
    Sister Helen Prejean appeals to governor to stay convicted killer Richard Glossip's execution
  4. 4
    Son and five others indicted on murder charges in Pryor woman's overdose death
  5. 5
    Du'Vonta Lampkin released by Texas, eligible for OU football
+ show more

FEATURED JOBS



× Trending business Article