Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

JPMorgan and MF Global Fight Over Missing Money

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MF Global and JPMorgan Chase got into a dispute over millions of customer dollars that were discovered to be missing earlier this week.

Anonymous sources from MF Global told news organizations that the firm had learned that $659 million of its missing customer funds were in a bank account at JPMorgan.

JPMorgan , however, has denied that the accounts contain the missing funds.

The discovery that hundreds of millions of dollars of customer money was missing effectively killed a a deal to sell MF Global to Interactive Brokers Group Inc. early Monday morning.

The Commodity Futures Trading Commission, which is one of MF Global's regulators, has estimated the amount of missing customer money at about $600 million.

For now, the mystery of the missing money is still unsolved.


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