MF Global cash ..Is in London!

[seko]

Hello avalon friends, what a surprise.. investigators reckon some of the money is in London, according to The Evening Standard in the UK.

Investigators on the hunt for more than $1 billion (£644 million) of customers' money that seems to have gone missing from collapsed broker MF Global reckon a chunk of it has turned up in the London accounts of JPMorgan.

http://www.thisislondon.co.uk/standa...o-mf-global.do

We can add a little more from Insurance news....

Fallout over the late-October bankruptcy of MF Global Holdings Ltd. – the eighth largest in U.S. history -- has spawned FBI and Justice Department investigations and left many wondering how, in the wake of supposed Wall Street reforms, government oversight of another financial institution was so lax.

More importantly for the agriculture sector, the bankruptcy and government response has prompted many questions about the safety of futures trading.That’s largely because MF Global customer accounts have been frozen and the threat of hard-earned farmer/rancher funds may be lost.

MF Global has reportedly “lost” customer funds, frequently cited in the $1.2 billion range. Former MF Global Chairman and CEO, Jon Corzine (once New Jersey governor and senator) has a long list of questions to answer.

http://insurancenewsnet.com/article.aspx?id=305004