MF Global Ordered to Pay $1.2B in Restitution, $100M Fine
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Mario Tama/Getty Images(NEW YORK) — MF Global has been ordered to pay more than a billion dollars in restitution plus a $100 million fine for misusing customer funds back in October 2011.
The firm went under at the height of the European debt crisis when regulators said the brokerage, run by ex-New Jersey Gov. Jon Corzine, used money from customer accounts to make a bad bet.
Litigation continues against Corzine, who could be banned from the industry and forced to pay a fine.
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