Reuters reports that US regulators are privately questioning a bankruptcy trustee’s estimate that pegs the shortfall in MF Global Holdings’ customer funds at around $1.2 billion. A source familiar with the matter says that regulators believe at least $220 million is being double-counted by the trustee, James Giddens. The total shortfall at the brokerage could be under $1 billion.
The same source said that regulators are “making progress” understanding the MF Global’s books so there is a chance that the figure could change again.
A spokesman for Giddens was not available for immediate comment.
