It has been recently revealed in a report that there are speculations being made about the statement which was made by Jon Corzine, about the Global funds of MF that went missing. He was the CEO of the firm back in last Deceover, when this had happened and now there are all sort of rumors running high that he had lied about the disappearance of these bonds.
There is now an investigation being done by the Department of Justice as well as the Securities and Exchange Commission, which shall soon find out the crux of the matter. They are going to conduct an investigation on whether the firm MF Global had illegally used the funds for making up for the losses of the firm. The final verdict about the issue shall be revealed soon and that shall decide what the truth is and who is at fault.
"We hope to learn whether the liquidity crunch at MF Global led someone to improperly use customer funds to meet the firm's need for cash", said Financial Services Committee Chairman Spencer Bachus.
It remains to be seen what these investigations shall find out in the time to come and whether or not the CEO had been lying only to cover up for the firm's losses.
Good News USA
- Vodafone NZ’s new ‘Red Home’ packages will offer UFB and 150 TV channels
- Vodafone NZ’s full-year profit plunged by more than two-thirds to $56 million
- Vodafone adding 34 European countries to ‘AU$5 per day’ international roaming option
- Telstra launches its new ‘Every Day Connect Data Share Packages’
- Voyager signs “multimillion-dollar deal” with submarine cable group Hawaiki