Missing MF Global Customer Funds May Have 'Vaporized': Report. MF Global Transferred $200 Million Cash to JP Morgan in London Three Days Before Bankruptcy. MF Global. MF Global - A Fractal In A Frying Pan. Submitted by MsCreant MF Global: A Fractal in a Frying Pan Gerald Celente, in an interview with Russia Today, claims he cannot access his PM trading account or get answers to his inquiries. It turns out Lind-Waldock, who he originally had the account with, was subsequently bought out by the now bankrupting MF Global. Understandably distraught, Celente asserts, “They took my money out of my account, six figures, and they have it.
They closed out two of my positions, and I cannot get any answers, and I can’t get my money.” Celente got many of us thinking—“If a guy like him can be refused access to his money, then who is safe?” Some argue he should not have been buying “paper gold.” But as I got to thinking, I realized all of the above misses a valuable take away lesson. While Gerald Celente is crying about his lost six-figure account, Bill Fleckenstein also has personal money tied up with MF Global. Today there is headline space to chide or support Celente and Fleckenstein. Feds: All Commodity Traders To Be Audited. Man Group PLC (EMG:LN) Stock Quote & Analysis. Recently Viewed Symbols Key Statistics for EMG mrq = Most Recent Quarter; ttm = Trailing Twelve Months Income Statement for EMG Revenue Net Income (M/USD) Profit Margin (%) Company Profile & Key Executives for EMG Man Group PLC is a global provider of alternative investment products and solutions for private and institutional investors to deliver returns with a low correlation to equity and bond market benchmarks.
More Company Profile & Key Executives for EMG Quotes delayed, except where indicated otherwise. MF Global Settlement Over Losses in Doubt. A $90 million settlement of an investor lawsuit against MF Global Holdings Ltd. and its former parent, Man Group Plc (EMG), over a 2008 wheat-trading loss was cast into doubt by the futures broker’s bankruptcy filing. A Manhattan federal judge is scheduled to decide on Nov. 18 whether to approve the settlement. The case is a class-action, or group, suit against MF Global, Man Group, underwriters of MF Global’s initial public offering in July 2007, and some of the firm’s officers and directors. The settlement allows investors to back out of the deal if they’re not paid the full $90 million, court records show. Lawsuits against the firm were automatically halted after MF Global filed for bankruptcy protection on Oct. 31.
A bankruptcy judge must decide whether MF Global may contribute to the accord. “If the bankruptcy court gives us approval, we’ll go forward,” Mark Rosen, a lawyer for the investors, said in an interview today. Wheat Futures The investor lawsuit follows an earlier scandal. News Headlines. Statement Regarding MF Global Inc. MF Global’s Board Said to Meet on Possible Sale. Jon Corzine’s MF Global Holdings Ltd. (MF) was working through the weekend to consider options for the sale of the futures broker, according to a person with direct knowledge of the situation. The firm’s board is meeting today in New York after convening yesterday, said the person, who asked not to be identified because the talks are private.
MF Global was in discussions with five potential buyers for all or parts of the company, including banks, private-equity firms and brokers, a person with knowledge of the matter said on Oct. 28. Pressure is mounting on Corzine, the former governor of New Jersey and U.S. senator, after MF Global declined 67 percent last week, its bonds started trading at distressed levels and it drew down on its credit lines. The New York-based firm reported a $191.6 million quarterly loss on Oct. 25 and Moody’s Investors Service and Fitch Ratings cut its credit rankings to junk. Corzine, who served as co-chief executive officer of Goldman Sachs Group Inc. Far East Blog » Dear Occupiers: A Letter from Anarchists. Todd J. Colvin.