socialmedian: Broker MF Global admits defrauding client

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Broker MF Global admits defrauding client - Times Online By priyankagill

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Submitted by Priyankagill

Mar 24, 2009

Summary

MF Global, the brokerage spun off from Man Group, the London-listed hedge fund, has admitted defrauding a former client who lost millions of pounds while trading derivatives on the back of inaccurate information.

The broker, formerly known as Man Financial, admitted “fraudulent misrepresentation” and “deceit” in its dealings with Rajesh Gill, a prolific day trader who traded contracts for difference (cfds) from his London home. Read the full article

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