James Giddens, a trustee of Jon Corzine's now bankrupt MF Global, says the company the total of missing customer money may be $1.2 billion -- double the roughly $600 million previously estimated by some regulators. "That would mean customer accounts are missing about 22 percent of their total of $5.4 billion. A shortfall of 11 percent had been previously estimated by a person with knowledge of probes into the firm's collapse," writes Bloomberg, adding that Giddens hopes to recover all of the money. (They're currently just short of 60 percent.) Adding to the murkiness of MF Global's financial dealings that are finally coming to light: regulators don't want to commit to a shortfall total. "From the very beginning we have tried as much as possible to never use a figure, out of fear that it's not right," Jill Sommers, commissioner of the Commodity Futures Trading Commission investigating the company, told Reuters.
This article is from the archive of our partner The Wire.