Outright thievery has occurred. Here are some heads moving on the financial wires:
MF Global Trustee says current plan to distribute 60% of what’s in segregated customer accounts for U.S. futures positions would require ~$1.3b-$1.6b, or nearly all of the $1.6b of assets currently under Trustee control.
• Apparent shortfall may be as much as $1.2b or more, above prior est.; says numbers are preliminary and may change
• Trustee to date has brought ~$3.7b under his control; has distributed ~$1.5b in collateral, is currently distributing $520m cash, leaving ~$1.6b
MF Global Trustee says current plan to distribute 60% of what’s in segregated customer accounts for U.S. futures positions would require ~$1.3b-$1.6b, or nearly all of the $1.6b of assets currently under Trustee control.
• Apparent shortfall may be as much as $1.2b or more, above prior est.; says numbers are preliminary and may change
• Trustee to date has brought ~$3.7b under his control; has distributed ~$1.5b in collateral, is currently distributing $520m cash, leaving ~$1.6b
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