The following article is from the NAFB News Service:
17 U.S. Senators have written the Attorney General urging him to bring justice to the actions of MF Global executives for the potentially illegal misappropriation of funds from the segregated accounts of its commodity customers. In the letter the Senators said – if the Justice Department’s ongoing investigation uncovers illegal actions criminal prosecution should be pursued without hesitation. We urge federal agents to use every legal resource available.
Iowa Senator Chuck Grassley has participated in oversight hearings of the Senate Committee on Agriculture seeking information and accountability for the loss of up to 1.2-billion dollars in customer funds, including money from farmers, grain coops and brokers.
Mr. Grassley notes, – establishing the specifics of what happened is key to figuring out how the system failed and how to fix it going forward. That’s in addition to the immediate task of helping to minimize the damage for farmers and other investors caught in the MF Global debacle.
Source: NAFB News Service
Posted by Haylie Shipp