CFTC Official Says MF Global's (MFGLQ) Books Are a 'Disaster'
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So where did MF Global's (OTCBB: MFGLQ) money go off to?
The Commodity Futures Trading Commission (CFTC) would like to know. One investigator said, "Their books are a disaster."
Interactive Brokers (Nasdaq: IBKR) CEO Tom Peterffy couldn't agree more; after getting a sneak peak into MF Global's books recently, the exec walked away from a deal it had been pondering for years.
Another executive from an undisclosed company, said a deal it might have been considering is going downhill rather quickly because it cannot get a grasp of what's going on with MF's balance sheet. The executive said routine items, such as current information about assets and positions, had taken hours to produce.
MF is currently cooperating with regulators and bankruptcy trustee James Giddens in clearing up the information on its records. The trustee is hoping to find about $600 million or more of funds that have gone missing.
Giddens said in a statement Thursday he will conduct a "deliberate, thorough, and independent investigation" on MF's books.
The Commodity Futures Trading Commission (CFTC) would like to know. One investigator said, "Their books are a disaster."
Interactive Brokers (Nasdaq: IBKR) CEO Tom Peterffy couldn't agree more; after getting a sneak peak into MF Global's books recently, the exec walked away from a deal it had been pondering for years.
Another executive from an undisclosed company, said a deal it might have been considering is going downhill rather quickly because it cannot get a grasp of what's going on with MF's balance sheet. The executive said routine items, such as current information about assets and positions, had taken hours to produce.
MF is currently cooperating with regulators and bankruptcy trustee James Giddens in clearing up the information on its records. The trustee is hoping to find about $600 million or more of funds that have gone missing.
Giddens said in a statement Thursday he will conduct a "deliberate, thorough, and independent investigation" on MF's books.
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