CFTC: 'We Don't Know Where All the MFGlobal Money Went'

December 15, 2011 03:19 AM

The U.S. Commodity Futures Trading Commission (CFTC) says contrary to what press reports suggest, the agency hasn't located all the missing MFGlobal customer funds. CFTC Commissioner Bart Chilton has issued the following statement:

"Press reports indicate that the CFTC knows the ultimate landing spot of all MF Global customer funds. While I will not discuss the specifics of the investigation, based upon the most up-to-date information available, I do not have confidence that we know where all the money went. Our staff has been working exceedingly hard and they have visuals into many aspects of this investigation, including transfers of some customer funds. That said, a thorough accounting of all customer funds has not been completed and remains a work in progress. We all want a resolution to the ultimate destination of customer money, and we want it returned as soon as possible to the rightful owners. At the same time, the investigation and any potential litigation should only come about after an exhaustive and particularly thorough accounting of the whereabouts and circumstances related to the transfer of customer funds."


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