MF Global To Pay $1.2 Billion Restitution, $100 Million Fine – ValueWalk Premium

MF Global To Pay $1.2 Billion Restitution, $100 Million Fine

MF Global Holdings Ltd (OTCMKTS:MFGLQ) will have to pay $1.2 billion in restitution and $100 million in civil fines in addition to admitting guilt as part of a settlement with the Commodity Futures Trading Commission (CFTC) regarding its conduct when the company went bankrupt in 2011, FINalternatives reports. The deal doesn’t cover individuals working at MF Global, and the CFTC is still suing CEO Jon Corzine, alleging that he did not act in good faith. Corzine denies any wrongdoing.

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