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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...

How to Calculate Penalties for Financial Institutions in Ponzi Scheme Cases

The Ponzi Scheme Blog’s JANUARY POLL asked how fines should be calculated for financial institutions engaged in wrongful conduct in Ponzi schemes. While much has been written recently about banks being “too big to jail,” they are clearly not too big to fine. But how do government agencies...