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JPMorgan has returned $600 million of MF Global money: WSJ
A sign is seen outside the JPMorgan office in Los Angeles, California, October 12, 2010.
Credit: Reuters/Lucy Nicholson
(Reuters) - JPMorgan Chase & Co (JPM.N) has returned about $600 million that was at the bank when MF Global Holdings Ltd (MFGLQ.PK) went bust in October, the Wall Street Journal reported late on Friday citing people familiar with the matter.
MG Global's bankruptcy trustee James Giddens might have additional claims against JPMorgan for several hundred million dollars, the business daily said.
JPMorgan officials contend that the bank no longer holds any MF Global money, the Journal said citing the people.
A JPMorgan spokeswoman was unavailable for comment outside regular business hours.
Trustee James Giddens, who is unwinding MF Global's broker-dealer, is to provide a written report to the U.S. Bankruptcy Court in Manhattan on the status of his investigation into the company's unraveling.
(Reporting by Abhiram Nandakumar in Bangalore, Editing by Jonathan Thatcher)
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And put it at work (probably used to short JPM)
But at best they returned it with the FED’s interest rate.
“Honesty and transparency”: JPM eternal motto.
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