MF Global Clients Can't Get $3 Billion Back Yet

New York-based derivatives broker MF Global filed for bankruptcy on Halloween, and its clients are feeling tricked because $3 billion of their funds remain tied up.

Reuters reports the players in the bankruptcy process aren’t giving customers an indication of how much money they’ll be able to recover, or when they’ll get it back. On Oct. 31, the courts approved the release of $520 billion in cash-only accounts, but an estimated thousands of accounts with blends of crash and other holdings have so far been left hanging in the balance.

MF Global’s bankruptcy trustee told Reuters “we can’t distribute money we don’t have,” saying he and the regulators have to identify and control the assets before they can return funds to clients.

Anger mounts as MF Global clients see $3 billion still stuck [Reuters]

Previously: Feds Investigate $600 Million Allegedly Missing At MF Global