MF Global Missing $1.2 Billion May Stay Missing
Since the collapse of MF Global, one of the acute questions is what happened to $1.2 billion in funds. Experts have been looking for the money for at least two months. Some expected to find it in accounts in Europe.…
Since the collapse of MF Global, one of the acute questions is what happened to $1.2 billion in funds. Experts have been looking for the money for at least two months. Some expected to find it in accounts in Europe. Others believe that forensic accountants could uncover it.
But, now some of those charged with recouping the money admit it could be gone forever, which will deepen a mystery that won’t be solved
The WSJ reports
As the sprawling probe that includes regulators, criminal and congressional investigators, and court-appointed trustees grinds on, the findings so far suggest that a “significant amount” of the money could have “vaporized” as a result of chaotic trading at MF Global during the week before the company’s Oct. 31 bankruptcy filing, said a person close to the investigation.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
