MF Global's missing cash mostly accounted for

(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

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.

advertisement | advertise on News 12

Trending Video

Barre originates from ballet, and similarly aims to 1 Ready, Set, Fit: Barre
Barre originates from ballet, and similarly aims to 2 Ready, Set, Fit: Barre
Two Ridgewood firefighters were hurt battling house fire 3 2 firefighters hurt battling house fire in Glen Rock
A small plane crashed into a wooded area 4 VIDEO: Chopper 12 over small plane crash at Gabreski Airport
News 12 New Jersey was on Lloyd Road 5 Powerful storm leaves behind damage across NJ

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE