10
Jan
2012
More on Refco and MF Glboal
Categories: Crisis, Financial Services
Years after its collapse, Refco continues to make news. Yesterday, an appeals court overturned the conviction of an attorney, Joseph P. Collins, who had been the chief outside counsel for the futures brokerage and was found guilty of aiding the company's scheme to hide millions in debt and mask its true financial condition. When the fraud was discovered, Refco filed for bankruptcy, and its assets later were sold to Man group, which later spun them off as MF Global.
Collins was convicted largely on the basis of testimony from a former Refco executive who cooperated with fe...
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