Posted on 12/21/2011 6:18:51 AM PST by Libloather
E-Mail Clues in Tracking MF Global Client Funds
By BEN PROTESS and AZAM AHMED
December 20, 2011, 9:00 pm
Federal authorities investigating the collapse of MF Global have uncovered e-mails that detail the transfers of money in the firm’s last days, including transfers that contained customer money, according to people close to the investigation.
One e-mail chain refers to the transfer of roughly $200 million that MF Global owed JPMorgan Chase on Oct. 28 — the firm’s last business day before it filed for bankruptcy. In that chain, a senior official in the firm’s Chicago office was told to make the transfer, said the people close to the investigation who requested anonymity because the inquiry was still open.
That official, Edith O’Brien, a treasurer at MF Global, is considered a “person of interest” in the investigation, said two of the people, who added that authorities expected to interview her in the coming days. It was not clear who had directed Ms. O’Brien, whose job was to oversee the customer money, to make the Oct. 28 transfer. The roughly $200 million that JPMorgan Chase received is said to be entirely customer money.
(Excerpt) Read more at dealbook.nytimes.com ...
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It’s just a matter of time till the cash turns up at DNC.
Color me stunned if he spends a day in jail. That just never happens to loyal Dems. You have to turn on them to go to jail - just ask Traficant.
It astounds me none of these guys ever manage to steal from the “wrong guy”. You know, they guy who would say: leave the gun, take the cannoli.
sfl
Dems all LOVE Other People’s Money.
I vaguely recall a banker involved in some stuff (and the Vatican) that was found dead under a bridge.
Perhaps that "message" was received loud and clear, and any "wrong" monies stolen in crooked schemes are returned, along with a handsome bonus for the inconvenience?
Are you serious? The CHICAGO office, hello. The city Barack Obama is from........
ping for later.
Corzine could do time, but maybe he’ll chicken out and just bite the barrel.
Someone at JP Morgan smelled a rat
But they took the money anyway, didn’t they?
What a bucket of sludge, Corzine and all of them
“Edith O’Brien” = “expert” at protecting customer money? Still on the payroll helping to investigate the theft she particpated in....and updating her resume?
Gee, why do all recent scandals seem to have a root in Chicago?
I am saving that ‘toon!
Is it any wonder these billion Dollar criminals are increasingly referred to as "banksters"?
I would wager nobody will ever spend a day in jail for this monumental theft. Certainly not Corzine. He is like a Russian Mafioso - simply too rich and well connected to be touched by "the law". The game is run by people just like him and his cronies and it is fixed.
Someone somewhere, just has to be wondering what the world of electronic fund transfer has brought to the table?
I’m a wondering what that world would be like if electronic transfer became an accountants with records, and suitcases or armored cars full of cash instead of ones and zeros, and email records. Pretty hard to hide billions in cash, unless it is just ones and zeros. Could this stone age idea open up a new JOBS avenue?
Take the US debt, is it real or just ether gone? When so many people have so little regard for the number of zeros behind the debt number, it causes me to wonder. Speaking of missing cash, and the recent cases of so many, perhaps beginning with Enron, compare the massive trillions on paper to a paltry missing few billion. It is a wonder we know the whereabouts of any of it.
Just some out loud thoughts this morning, while waiting for the next financial shoe to drop.
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