MF Global Money ‘Vaporized’

Officials have been unable to locate $1.2 billion in missing customer money in the three months since MF Global filed for bankruptcy. $6 billion was kept at MF Global before its collapse and about $5.3 billion of that money has been found. But additional customer money may be lost in litigation with other branches of MF Global, which accounts for the higher figure. Authorities now say that it is unlikely that the missing money will ever be recovered. A person involved with the investigation said it is possible that a “significant amount” of money “vaporized” in the week leading up to the collapse. While one customer said, “I’m trying to be optimistic, but as it drags on longer, you become leery.”