MF Global Customer: My 50$mil account is missing

B

buzzy2

Lombard, Illinois-based fund Highridge Futures Fund LLP
on Friday said its more than $50 million account with the broker-dealer unit of MF Global Holdings Ltd (MFGLQ.PK) is missing, and asked a federal bankruptcy judge to order the trustee to find it.

"This account is nowhere to be found," said the fund, overseen by Highridge Trading Co. It has been told twice that the account was being transferred, but the transfer never occurred.

MF Global trustee James Giddens has refused to help locate its account with Inc, even after transferring some 38,000 other accounts and giving customers access to some of their collateral. He has said nothing about the status of its account, which held commodity positions and cash,


http://webfarm.bloomberg.com/news/2...account-gone-highridge-futures-fund-says.html

http://www.reuters.com/article/2011/12/02/us-mfglobal-missing-account-idUSTRE7B12AD20111202
 
Quote from buzzy2:
----Lombard, Illinois-based fund....
----$50 million account....
----MF Global....
----missing....
----account is nowhere to be found....
More...
1) In Lombard, Illinois? Can't they afford office space in Oak Brook instead? :confused: :(
2) The "account" may actually not exist and somebody is attempting to commit fraud to the "tune" of 50-million dollars. :eek: :p :D :mad:
 
Nazzdack,

You did a quick read and at first I might have agreed.

""This account is nowhere to be found," said the fund, overseen by Highridge Trading Co. It has been told twice that the account was being transferred, but the transfer never occurred."

I am not sure of the veracity of the quote, but if the company was told twice the money was being transferred this supports the existence of the account.
 
Quote from Quickless:

Nazzdack,

You did a quick read and at first I might have agreed.

""This account is nowhere to be found," said the fund, overseen by Highridge Trading Co. It has been told twice that the account was being transferred, but the transfer never occurred."

I am not sure of the veracity of the quote, but if the company was told twice the money was being transferred this supports the existence of the account.
More...

Lol.

I wonder if somebody told the trustee about that inference.
 
Quote from nazzdack:

1) In Lombard, Illinois? Can't they afford office space in Oak Brook instead? :confused: :(
2) The "account" may actually not exist and somebody is attempting to commit fraud to the "tune" of 50-million dollars. :eek: :p :D :mad:
More...

lol at 1.
 
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