Money Found in Britain May Belong to MF Global

[tabatha]

About $200 million in customer money that vanished from MF Global is believed to have surfaced at JPMorgan Chase in Britain, according to people briefed on the matter. The discovery could be the most significant breakthrough in a monthlong hunt for the missing funds.

During MF Global’s last chaotic days, the brokerage firm overdrew an account at JPMorgan, according to another person who is close to the matter. Some investigators now believe the firm used customer funds to patch at least some of the hole, which would have been a significant breach of federal law.

MF Global transferred the roughly $200 million in the days before the firm filed for bankruptcy, said the people, who requested anonymity because the investigation was incomplete.

http://dealbook.nytimes.com/2011/11/28/money-found-in-britain-may-belong-to-mf-global/

[jberryhill]

1. I do that all of the time

I don't usually carry cash, but I had, like, a couple twenties because I was going to negotiate a cash purchase. I didn't get the price I wanted, so I had like sixty dollars in cash.

I thought I'd put it in my pants pocket, and didn't think about it when I went to bed. So, the next morning I went to get it out of my pants and it wasn't there. So, I was like "crap, did I lose sixty bucks?". I looked in my shirt, and it wasn't there either.

A couple of days later, I found it in my jacket pocket with my car keys.

Same thing. Who hasn't forgotten where they've left some money every now and then?

[Prometheus Bound]

2. LOL. Where the fuck did I put that $200 million. It's gotta be around here somewhere.

[jberryhill]

3. Yeah, and your wife wants to know why your cash disappeared...

[Mojeoux]

4. Dosn't this money really belong to the people ripped off by MF Global?

:shrug:

[jberryhill]

5. It might be a coincidence

Maybe they found it in the sofa cushions.

In my house, that's fair game.