FBI probe continues MF Global’s downward spiral

Agency investigating whether hundreds of millions of customer dollars is missing

MF Global Holdings Ltd.’s collapse into bankruptcy on Monday has led the FBI to investigate whether at least $700 million in customer funds is missing.

The New York securities company, which former New Jersey Governor and ex-Goldman Sachs Co-Chairman Jon Corzine leads, was attempting to sell its assets to a rival company, Interactive Brokers Group Inc., when the potential buyer discovered a discrepancy in the company’s books. MF Global then quickly collapsed, becoming the eighth largest bankruptcy in U.S. history.

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