Insight: Anger rises as MF Global clients see billions frozen
MF Global Customers Hope for Funds
These two articles above are the most recent on MF Global. It seems that the money is now MIA which customers from MF Global were supposed to get. Here's reuters article which was posted on the 17th. I want to quote a few lines before posting the link:
Later on Thursday, the company announced J. Randy MacDonald, its global head of retail, was no longer employed.
The company said in a U.S. Securities and Exchange Commission filing that MacDonald had "ceased to be employed" and would not receive severance or termination payments.
MacDonald was owed $8.9 million in severance, according to a July proxy filing. His departure comes two weeks after MF's chief executive, former New Jersey governor and Goldman Sachs head Jon Corzine, resigned without taking roughly $9 million in severance.
Chief Operating Officer Bradley Abelow, also entitled to about $9 million in severance, is still employed. A spokeswoman for MF Global did not return a call seeking comment on Thursday.
MF, which went bankrupt October 31, laid off nearly half its staff, including more than 1,000 employees of the company's broker-dealer unit.
Full article here:WRAPUP 3-MF Global customers to get long-sought $520 mln
It's obvious these guys were messing with people's money, both MacDonald and Jon Corzine need to be sent to jail.
MF Global Customers Hope for Funds
These two articles above are the most recent on MF Global. It seems that the money is now MIA which customers from MF Global were supposed to get. Here's reuters article which was posted on the 17th. I want to quote a few lines before posting the link:
Later on Thursday, the company announced J. Randy MacDonald, its global head of retail, was no longer employed.
The company said in a U.S. Securities and Exchange Commission filing that MacDonald had "ceased to be employed" and would not receive severance or termination payments.
MacDonald was owed $8.9 million in severance, according to a July proxy filing. His departure comes two weeks after MF's chief executive, former New Jersey governor and Goldman Sachs head Jon Corzine, resigned without taking roughly $9 million in severance.
Chief Operating Officer Bradley Abelow, also entitled to about $9 million in severance, is still employed. A spokeswoman for MF Global did not return a call seeking comment on Thursday.
MF, which went bankrupt October 31, laid off nearly half its staff, including more than 1,000 employees of the company's broker-dealer unit.
Full article here:WRAPUP 3-MF Global customers to get long-sought $520 mln
It's obvious these guys were messing with people's money, both MacDonald and Jon Corzine need to be sent to jail.
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