This happened with another big futures house back in 2005. That was Refco. In that case there were significant client account losses. Of historical interest:
-Phil Bennet, the boss at Refco, went to jail for 12 years.
-Man Group bought what was left of Refco (they were good futures brokers).
-Man became MF Global. Rinse and repeat.
The history is relevant as it is more evidence that Corzine and MF management HAD to know that commingling was the ultimate no-no. It was part of their history.
MF Global advised the G20 on Commodities and Chinese Government! Everything you want to know about MF Global! arrest them all immediately including Jon Corzine!