Yesterday’s hearings of the U.S. Senate’s Agriculture, Nutrition and Forestry Committee probing the MF Global and PFGBest scandals had less fireworks than past hearings but perhaps a more serious tone.
In a court filing today, MF Global Inc. (MFGI) Trustee James Giddens said CME Group has agreed to hand over more than $175 million to the trustee, the majority of which is earmarked to be returned to customers.
James Koutoulas made an interesting claim in a conversation with CNBC last week. He indicated that he has inside information from sources within JP Morgan that the bank is holding up to $600 million in former MF Global customer money.
MF Global Holdings Ltd. may have more than $3 billion of claims against its affiliates and units, the company’s bankruptcy trustee said in a report detailing the progress of an investigation into its collapse.
MF Global Holdings Ltd. still can’t trace where some of the money went when its brokerage collapsed, including $1 billion that “vanished” into the brokerage unit MF Global Inc., an attorney told a bankruptcy court.