MF Global Holdings, Ltd. (fka MFGLQ)

[Sharktnk]

Email



(This story has been posted on The Wall Street Journal Online's Deal Journal
blog at http://blogs.wsj.com/deals.)


By Shira Ovide

As our Journal colleagues wrote today, the hunt for roughly $600 million
missing from MF Global customer accounts is being hampered by the poor
condition of the company's financial records.

Tucked into court documents related to MF Global's bankruptcy case is the
company's first official notice to regulators that there was a "significant
shortfall" in MF Global's client accounts.

Note that this email from MF Global's general counsel was sent in the evening
of Oct. 31 -- hours after the company had filed for bankruptcy protection, and
after a rescue sale of MF Global fell apart because the company's books didn't
add up. (MF Global officials had told regulators by phone a day earlier about
suspicions of missing money.)

The Financial Times and accounting writer Francine McKenna earlier wrote
about the email.

-For continuously updated news from The Wall Street Journal, see WSJ.com at
http://wsj.com.


(END) Dow Jones Newswires

11-11-11 0926ET

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