WASHINGTON, D.C. - (AP) - Investigators have located almost all the $1.2billion first reported missing when securities company MF Globalwent under last year.
People briefed on the matter tell The Associated Press that themoney has been tracked to other customer accounts and banks.
Investigators for financial regulators and trustees representingthe company and its customers have been trying to track down themoney. MF Global, headed by former New Jersey Gov. Jon Corzine,failed in October after a disastrous bet on European debt.
Brokerages are supposed to keep customer money separate fromcompany funds. The people said the company misused the money tomeet other financial needs as it collapsed.
The people spoke on condition of anonymity because they were notauthorized to discuss the ongoing probes publicly.