Probe Learns What Happened To MF Global Cash

Feb 1 2012 | 2:37am ET

Money is still missing at collapsed brokerage MF Global—but investigators now think they know what happened to it.

A Commodity Futures Trading Commission-led probe has determined what became of almost all of the customer money that disappeared as MF Global slouched towards bankruptcy last year, The New York Times reports. But authorities haven't actually recovered all of it, merely tracing the hundreds of millions of missing dollars, some of it belonging to MF Global hedge fund clients, to banks.

The CTFC isn't saying where the money wound up, as it determines the best way to try to get it back. All authorities will say is that they are making progress and have traced more than 90% of transfers.

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Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…