Mf Global Missing Money, Brokerage Firm | featured news

Lawmakers asked Christine Serwinski, the chief financial officer for the firm’s North America operations, why she didn’t tell regulators about her concerns before the firm’s bankruptcy.

As MF Global was in the final throes of a fatal cash crisis, CEO Jon Corzine gave "direct instructions" to transfer $200 million of customer funds to cover an overdraft, according to a congressional memo released Friday.

U.S. lawmakers investigating the collapse of futures brokerage MF Global showed frustration with the firm's leaders about what happened to hundreds of millions of dollars in missing customer funds.

A lawyer for James W. Giddens, the trustee, said the investigation into MF Global had shown suspicious transfers from the so-called segregated accounts that still appear to have a substantial shortfall.

Jon Corzine told a congressional panel Thursday that he never intended to break rules requiring failed securities firm MF Global to safeguard client funds. He also said he doesn't know what happened to an estimated $1.2 billion that went missing.