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U.S. broker missing $220 million in client funds; founder attempts suicide
Wednesday, July 11, 2012 13:14
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(Reuters) – More than $200 million (128.8 million pounds) in customer funds appears to be missing from the accounts of U.S. futures broker PFGBest, regulators said on Monday just hours after the firm’s founder attempted suicide outside the company’s Iowa headquarters.
The suicide attempt and missing money renewed anxiety over the stability of the brokerage industry less than a year after the collapse of much larger MF Global. PFGBest told customers their funds had been frozen and clients would be allowed to liquidate open trading positions, but would not be able to withdraw funds or make new trades until further notice.
more here:
http://uk.reuters.com/article/2012/07/10…CD20120710
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