Investigators and investors want to know what happened to several hundred million of capital held by nearly defunct MF Global went. There is a great deal of concern that client money was mixed with money that the firm traded for itself.
Reuters reports that
The sale of securities to Goldman occurred on October 27, just days before MF Global Holdings Ltd filed for bankruptcy on October 31, the ex-employees said. One of the employees said the transaction was cleared with JPMorgan Chase.
The question of the legality of this transaction, or any other unlawful disposal of assets may bring down former MF CEO Jon Corzine, a former CEO of Goldman