{"id":5356,"date":"2012-08-16T00:00:00","date_gmt":"2012-08-16T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2012\/08\/even_with_securities_lawsuits"},"modified":"2022-04-28T15:47:43","modified_gmt":"2022-04-28T20:47:43","slug":"even-with-securities-lawsuits","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/even-with-securities-lawsuits\/","title":{"rendered":"Even With Securities Lawsuits Over MF Global\u2019s $1.6 Billion Customer Funds Loss, Don\u2019t Expect Criminal Charges"},"content":{"rendered":"\n

The criminal probe into brokerage firm MF Global\u2019s collapse and its inability to account for approximately $1.6 billion in customer funds will likely end with no criminal charges filed against anyone. Sources involved in the case are reportedly saying that investors are finding that not fraud, but \u201cporous risk controls\u201d and \u201cchaos\u201d caused the money to go missing. <\/p>\n

At the time of MF Global\u2019s bankruptcy filing almost 10 months ago, then-MF Global CEO Jon S. Corzine apologized to everyone saying that he also didn\u2019t know what happen to the money. Meantime, thousands of customers saw their assets frozen.<\/p>\n

According to a report by bankruptcy trustee James Giddens\u2019, the brokerage company improperly used customer money that they are forbidden to tap so that it could stay in business and meet margin calls. Yet, still, is no one likely to be charged with wrongdoing? <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The criminal probe into brokerage firm MF Global\u2019s collapse and its inability to account for approximately $1.6 billion in customer funds will likely end with no criminal charges filed against anyone. Sources involved in the case are reportedly saying that investors are finding that not fraud, but \u201cporous risk controls\u201d and \u201cchaos\u201d caused the money […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,4009],"tags":[],"class_list":["post-5356","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-mf-global"],"yoast_head":"\nEven With Securities Lawsuits Over MF Global\u2019s $1.6 Billion Customer Funds Loss, Don\u2019t Expect Criminal Charges — Investor Lawyers Blog — August 16, 2012<\/title>\n<meta name=\"description\" content=\"The criminal probe into brokerage firm MF Global\u2019s collapse and its inability to account for approximately $1.6 billion in customer funds will likely end — August 16, 2012\" \/>\n<meta name=\"robots\" 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