Friday, January 06, 2012

This Is What He Was Hired For

Nobody could have predicted that Louis Freeh was hired to bury the bodies.

(Reuters) - MF Global's bankruptcy trustee, Louis Freeh, has refused to turn over some documents to the Commodity Futures Trading Commission (CFTC), which is investigating what happened to an estimated $1.2 billion (774.6 million pounds) in missing customer funds, the Wall Street Journal said.

Freeh, a former director of the Federal Bureau of Investigation and who represents MF Global's parent company, has asserted attorney-client privilege in deciding not to release certain documents to the CFTC, according to his office and people familiar with the matter, the Journal said.

The dispute is complicating efforts to learn how the firm lost the customer funds and to return the money to its owners and could slow the investigation, the Journal said, citing people familiar with the investigation.

$1.2 billion was stolen. They'll never get the money back, and no one will be prosecuted. And everyone will spend a lot of time making it all appear to be oh so complicated and confusing when of course it isn't.