Streams

Two Years After Bankruptcy, MF Global Clients Get Their Money Back

Wednesday, November 06, 2013

Jon Corzine, former CEO of MF Global, testifies before the House Agriculture Committee about the company's bankruptcy of MF Global on Capitol Hill in Washington on December 8, 2011. Jon Corzine, former CEO of MF Global, testifies on Capitol Hill. (Saul Loeb/AFP/Getty Images)

The customers of the failed commodities brokerage firm MF Global are set to have the money missing from their accounts returned to them in full.

A judge has approved a motion to make a final round of payments to former clients.

Two years ago, MF Global, led by former New Jersey Governor Jon Corzine, filed for bankruptcy.

Tens of thousands customers were stunned to learn their accounts, which should have been kept separate, had been emptied. In total $1.6 billion dollars was missing.

James Giddens, the trustee handling these customer accounts, said he never expected to recover 100 percent of the missing money. But he noted this is not the end of the bankruptcy process.  M-F Global creditors still have claims totaling three billion dollars.

Tags:

More in:

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by