US futures firm MF Global Holding has been ordered to pay $1.2bn (£740m) in restitution to its customers over its collapse.
MF Global, which had a UK subsidiary, became the eighth largest bankruptcy in US history when it filed for protection in October 2011, after a $6.3bn bet on European sovereign debt prices went wrong. The US Commodity Futures Trading Commission (CFTC) obtained the $1.2bn order from a federal court, as well as an additional $100m in civil penalties, the BBC reports. About $1.6bn of client money went missing before the firm filed for bankruptcy protection. The CFTC is also still suing the former head of the firm, Jon Corzine. Corzine, a Wall Street legend at Goldman Sachs and forme...
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