Summary Box: MF Global execs cooperating in probe

AP News
Posted: Mar 28, 2012 8:47 PM
Summary Box: MF Global execs cooperating in probe

COOPERATING WITH FEDERAL PROBE: Three MF Global executives say they are cooperating with a Justice Department investigation into the collapse of the brokerage firm last fall and more than $1 billion in customer money that vanished. But they largely deflected questions about the missing money at a congressional hearing Wednesday.

TAKING THE FIFTH: Edith O'Brien, a fourth executive who had the authority to approve a funds transfer, declined to answer lawmakers' questions, invoking her Fifth Amendment right against self-incrimination.

FRUSTRATED LAWMAKERS: Lawmakers expressed frustration over the limited information provided by the MF Global witnesses during a three-hour hearing of the House Financial Services oversight subcommittee. The panel was trying to piece together what happened in the final days before the firm filed for bankruptcy protection on Oct. 31.