Hundreds Of Millions Missing At MF Global

Nov 1 2011 | 10:36am ET

MF Global, the former futures brokerage arm of the Man Group, filed for bankruptcy yesterday after it became clear that hundreds of millions of dollars of customer money was missing.

The revelation of the missing money scuttled a proposed deal to sell much of the firm to Interactive Brokers Group, an agreement struck over the weekend. It remains unclear exactly how much money was missing, although most recent figures put it at between $600 million and $700 million.


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