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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Ramsey Su who wrote (44251)10/26/2005 10:52:12 AM
From: orkrious  Read Replies (1) of 110194
 
from Jimmy Rogers' funds suit re Refco:

“In the suit, the funds
charge that Refco “deceitfully” moved their assets to Refco Capital from segregated accounts at Refco prior to
Refco’s bankruptcy filing Oct. 17. … According to court papers, Refco “swept” $340 million of the funds’
government securities and $22 million in cash from Refco LLC, then deposited it in unregulated Refco Capital
Markets before putting the unit into Chapter 11. … The Rogers funds “specifically” authorized a transfer of the
assets only into segregated accounts at Refco LLC, court papers said. … The funds’ assets --- consisting of
futures positions, margin funds and government securities --- were transferred to Refco from Man Financial Inc.
over the last week of September and the first two weeks of October.”
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