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MF Global's (MF) nearly $700M in missing customer funds have been found in a custodial account...

MF Global's (MF) nearly $700M in missing customer funds have been found in a custodial account at JPMorgan (JPM), according to sources. The account contained $2.2B as of October 31 - $658.8M of customer money and the rest belonging to MF. It appears the money was discovered today when MF opened up its end of the month account statement.
Comments (4)
  • rkonstanty
    , contributor
    Comments (12) | Send Message
     
    Old comment already....JPM said these weren;t the funds
    4 Nov 2011, 02:43 PM Reply Like
  • Vuke
    , contributor
    Comments (1666) | Send Message
     
    They're around here somewhere so check over there by the water cooler. A couple of $billion can't just vanish.
    4 Nov 2011, 02:53 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9973) | Send Message
     
    Billions .... hmmm we would offer to be the custodian for a mere pittance fee of a few million/year. And be able to account for funds instantly upon request.
    4 Nov 2011, 03:28 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (706) | Send Message
     
    Hard to believe no one knew about this account with this amount of money involved. Isn't Jamie the only CEO left standing from 2008 meltdown? I'm sure he'd be willing to work with the Fed on this one.

     

    Hummm...
    4 Nov 2011, 03:19 PM Reply Like
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