It's looking like outright theft at MF Global (MFGLQ.PK), where investigators believe some of...

|About: MF Global Holdings Ltd. (MFGLQ)|By:, SA News Editor

It's looking like outright theft at MF Global (MFGLQ.PK), where investigators believe some of the customer accounts were raided to pay off losing bets, meaning the money isn't missing, it's gone. Like other brokers, MF was allowed to borrow customer cash if it put up collateral, but it appears the firm did not provide the necessary backing.