WASHINGTON, D.C. – U.S. Senator Jerry Moran (R-Kan.), a member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, issued the following statement today on the 275-page report filed by James Giddens, the MF Global Bankruptcy Trustee. The report outlines the high-risk trading strategy that brought on MF Global’s bankruptcy. About $1.6 billion was found to be missing from client accounts when MF Global collapsed.
“Today’s troubling report is a stark reminder that farmers and ranchers across Kansas and America are still waiting for their money to be returned,” Sen. Moran said. “Confidence in our markets will not be restored until justice is brought to those who violated the sanctity of the segregated customer funds.”