Rob a 7-11 with a gun? Get at least 20 years in prison. Rip-off investors to the tune of $1.6 billion, get no jail time, no charges and you don't even need to make restitution. MF Global represents yet another example how financial crime goes unpunished and not penalized.
We know MF Global played around with customer's money. The amount they lost is even larger than originally estimated, now at $1.6 billion bucks. Seems there is $700 million overseas and that branch of MF Global in the U.K. ain't giving the money back.
JB Slear, a gold and silver broker based in Arizona specialises in helping high net worth clients take physical delivery of gold and silver futures contracts. He said "we're finding more restrictions being applied to overseas buyers, one Comex warehouse will not allow overseas deliveries."
Slear tells his clients that they may have to wait more than two weeks to take delivery as delays and complications in the process have become increasingly commonplace. In some cases this has fueled concern that stockpiles are running out.
Rob a 7-11 with a gun? Get at least 20 years in prison. Rip-off investors to the tune of $1.6 billion, get no jail time, no charges and you don't even need to make restitution. MF Global represents yet another example how financial crime goes unpunished and not penalized.
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