Saturday, June 9, 2012

Did MF Global Commit Fraud?

Did Jon Corzine's MF Global do more than misuse investor funds in its final days?  The Bankruptcy Trustee's Investigation Report alludes to fraudulent valuations in a graph on page 6 of Annex F.  The graph shows MF Global consistently priced above industry prices for repo and reverse repo transactions:

The body of the report mentions this only in footnote 59 on page 63.

Did MF Global fraudulently value its holdings as it robbed customers?  That may or may not be answered in a court of law.

Ex-President Bill Clinton and  Former Prime Minister Tony Blair can breathe a sigh of relief as Teneo was not mentioned in the MF Global Trustee's investigative report.  Jon Corzine, disastrous gambler or pathological criminal? The press pushed the gambler meme to date.

5-21-17:  Corzine is starting up a hedge fund to trade the Trump Presidency and expected chaotic market swings.  Even when caught these guys don't go away.