MF Global customers learn they’re unlikely to get back 100 percent of their money

Posted by on Jan 13, 2012 at 8:17 am

With $1.2 billion in MF Global client cash still missing, those scorched customers had better not hold their breath waiting by the mailbox to be made whole.

They are not likely to get back 100 percent of their money from MF, the broker-dealer led by Jon Corzine that crashed spectacularly last Halloween.

That was the message roughly 100 customers walked away with yesterday after their first face-to-face with James Giddens, the trustee responsible for cleaning up Corzine’s mess.

“Bottom line is, they’re not promising they’re going to get customers up to 100 percent,” said Daria Fane, an MF customer who attended the meeting at a downtown hotel before heading to her real-estate job in Midtown.

Full story.

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