MF Global GC will testify tomorrow at House hearing

Laurie Ferber will address broker’s fall into bankruptcy, questionable transfers

Tomorrow, MF Global Holdings Ltd. General Counsel Laurie Ferber will testify at a House Financial Services subcommittee hearing on the broker’s bankruptcy this past October that resulted in an estimated $1.6 billion customer funds shortfall.

In a testimony prepared for tomorrow’s hearing, Ferber says she wasn’t aware of the gravity of the customer funds shortfall until right before MF Global collapsed into bankruptcy. She says she received emails on Oct. 30, 2011—the day before the broker collapsed—indicating there was a shortfall in customer accounts estimated between $3 million and $952 million.

Ashley Post

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