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MF Global to Pay $1.21B in Restitution for Unlawful Use of Customer Funds

WASHINGTON, D.C. — (Mealey's) The U.S. Commodity Futures Trading Commission (CFTC) today announced that it has reached an agreement with MF Global Inc. (MFGI) under which MFGI will pay more than $1.21 billion in restitution for the unlawful use of customer funds by its bankrupt parent MF Global...

Who Are the Victims in the Bernard Madoff Ponzi Scheme?

People lose money in Ponzi schemes. They may have invested directly, or perhaps through a feeder fund. Or maybe they invested in a limited partnership that itself invested in the Ponzi scheme. When the Ponzi scheme implodes, people want their money back. Recent activity in the Bernard Madoff scheme...