Tuesday, February 28, 2012

"Grand Jury Is Convened in MF Global Case"

Window dressing or a real effort?
From DealJournal:
Federal prosecutors in Chicago have convened a grand jury to investigate potential wrongdoing surrounding the collapse of MF Global, the commodities firm once run by Jon S. Corzine, according to a regulatory filing.

The CME Group, the exchange operator and for-profit regulator of MF Global, disclosed in its annual report on Tuesday that it had received two subpoenas related to the brokerage firm: one from a federal grand jury in Chicago and another from the Commodity Futures Trading Commission, the regulator heading up the investigation.

The Federal Bureau of Investigation and federal prosecutors in New York are also examining how the firm misused more than a billion dollars of customer money, which has not been recovered....MORE