MF Global To Pay $1.21B In Restitution For Unlawful Use Of Customer Funds

MF Global To Pay $1.21B In Restitution For Unlawful Use Of Customer Funds

WASHINGTON, D.C. - The U.S. Commodity Futures Trading Commission (CFTC) on Nov. 18 announced that it had 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 Holdings Ltd., which used the money to cover its losses. MFGI also agreed to pay $100 million in civil penalties, according to the CFTC's statement (U.S. Commodity Futures Trading Commission v. MF Global Inc., et al., No. 11-7866, S.D. N.Y.).

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