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European MF Global Clients Furious After KPMG Releases Their Home Address, Holdings Details
MF Global's creditors (and clients) in Europe, and everywhere else, have many reasons to be furious. Now those in Europe have one more to add to their list of grievances: a complete and totally public disclosure, courtesy of KPMG, of not only how much they are owed, but their mailing, and in many cases, home address. In other words, not only will these individuals not receive their full claims in the insolvent entity whose primary specialty as it turned out was rehypothecating what little assets it did have, but now have to worry about the taxman coming after them.... As well as promptly changing their home address. One party, however, that will hardly mind, is JPMorgan which is supposedly owed just over €100 million. Luckily for them, they already quote unquote collected the (client) money.
The full list is below (source)
And the FT's take:
Private clients of MF Global reacted angrily on Wednesday to what several said was a severe breach of privacy, after KPMG, administrator to the UK arm of the failed futures broker, published their identities, home addresses and the sums owed to them.
The list, which includes corporate and institutional clients from the UK’s Financial Services Authority to the London Stock Exchange as well as numerous banks and trading entities, includes hundreds of private individuals who are owed sums as small as £3,200 and as large as £500,000 apiece. Other creditors include JPMorgan, which is owed £100m.
The revelation comes as the laws protecting UK customers of failed investment firms are coming under scrutiny. While MF Global’s US clients have recouped nearly three-quarters of their cash, their UK counterparts have received only a quarter, at best. Customers’ legal status has been further complicated by a UK court ruling on Lehman Brothers that treats customers suffering losses from a failed broker not individually but as a class.
Under UK insolvency law, directors must publish a statement of affairs but can apply to a court for parts of the statement to be redacted if it prejudices the conduct of the administration, as happened with Lehman.
“After legal advice, we considered that there were no substantive grounds to apply for a redaction and the court would be likely to reject any such application,” said Richard Heis, joint special administrator at KPMG.
James Nicholls, an insolvency lawyer acting for a group of creditors to the UK administration, said: “In a case like this of such sensitivity they [KPMG] could and should, in my opinion, have asked the court for permission to redact the personal identities. It is incredible that we now know the names and addresses of rich and vulnerable individuals around the whole world.”
Something tells us the 99 percenters are quite delighted with this release and are busy taking notes and plotting waypoints for when the time finally comes.
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The squid knows where you are!
shouldn't the headline read" mf global clients hunting for home addresses of leaders of MF Global"?
Well that ought to shut these whiny "clients" up with their litigation talk..press it some more and your credit card numbers will get "hacked"
Well at least it's not atax issue...
But stand by to be bombarded with financial advisers.
Well let's face it, if you invested with MF then you need some financial advice, even if it is to buy gold of the phys variety...
Sorta like leaving a trail of bread crumbs.....so they can go back and double dip.
A list of the pissed.
I see they have unalloCATTED money too at the bottom. Miaow!
"SUNDRY PAYABLES Unallocatted 12,896,467.72"
All I saw was 50 pages of wealth distribution from the wealthy tax evaders
MF Global, the gift that keeps on giving....
... financial AIDS.
was that Jack Cheraque or Clinton?
"Today US business is measured by what you stole minus the fine you paid."
- Jim Sinclair, Mineset
Did the release include personalized GoogleMaps directions to the nearest guns & ammo outlet?
Guns & ammo in Europe? Surely you jest.
Note to Americans: Surprise! We actually have lots of private civilian guns in Europe.
Germany: 25 million civilian privately owned handguns, shotguns, rifles.
France: 19 million civilian privately owned handguns, shotguns, rifles.
And so on.
We do not carry them around, or have as high gun ownership rates as in the US, but 100 million plus private guns in Europe is definitely significant.
Yes - a special case - the crazy UK Brit government did confiscate all privately owned handguns in the 1990s (though not long guns). - But the Brit regime has crazy moments, the cult of law and lawyers going too far (like happens in the US in a different way, with the US judges no longer honouring the US Constitution).
It is not like that on the Continent. Here we know the Nazis can come back, they were here before. Guns stay in European people's hands and homes. Belgium is a big gun-owning country too.
Facts of gun ownership and policies in countries around the world:
http://www.gunpolicy.org/
But do you have the ammo to use in said arsenal ?
I can walk two blocks to my gun store right now and walk out of the store with the gun in a holster loaded. When you can do that in Europe with having to sign your first born away, let me know, because I will move there. Tired of dealing with war-mongering assholes here. I want to be able to go shooting in my spare time just like the rest of the people enjoy watching cricket or whatever sports that I do not feel awkward call footbal when the dudes run with the ball in their hands.
From article:
"In other words, not only will these individuals not receive their full claims in the insolvent entity whose primary specialty as it turned out was rehypothecating what little assets it did have, but now have to worry about the taxman coming after them."
Comment:
Um, if I take a loss do to corruption of a trading firm, I owe less taxes. Let the tax man cometh. In fact, I now have KPMG documents that would support my claim.
mayhem_korner
"Did the release include personalized GoogleMaps directions to the nearest guns & ammo outlet?"
Comment:
It would seem to me the parties that would want guns & ammo to do vigilante actions would be those on the list. Many of the clients are overseas. It would make more sense to try to procure any such destructive materials near former MF Global headquarters of former executives thereof.
icanhasbailout
"Every one of whom can be reasonably presumed to have intended to specifically profit from Corzine's corrupt political influence peddling."
Comment
Taking the statement I highlighted from the article, those on the list did not necessarily profit but at are a loss because of MF Global's actions.
GeneMarchbanks
financial AIDS.
Comment
That was a good post - witty. I give you a up rating ; )
resurger
"Bank of America owes £1.65
Comment:
I would read this as Bank of America is owed £1.65. The list is of creditors, not debtors. MF Global is the debtor and owes the money
im pretty sure that these losses will somehow/someway NOT be interpreted as a loss in the taxman's eyes. unleash the lawyers!!!!
Every one of whom can be reasonably presumed to have intended to specifically profit from Corzine's corrupt political influence peddling.
"Every one of whom can be reasonably presumed to have intended to specifically profit from Corzine's corrupt political influence peddling"
I know a lot of farmers...local farmers with small farms not the big corporate farms... who have lost a lot of money because the hedge their pricing through MF Global. Not everybody intended to profit from said corruption. There where a lot of honest people who had their money stolen.
Not a one of them has a good excuse not to have bailed ship the moment Corzine came on board. (Stupidity, ignorance, and sloth are not good excuses.)
WTF kind of statement is that? the poor dumb farmers got what they deserved?
The same could be said about our current admin/congress/fed reserve/ETC.
I for one don't want to be a Canadian....just yet
Is the sense of the board is that it is just fine and dandy to do business with the most evil people on earth?
The idea that counterparty risk and moral hazard should be able to be safely ignored is amusing, if a very odd sentiment to come from people with high levels of interest in the market.
By the way, I don't see very many names in that list that look like small farmers, do you?
It's the EUROPEAN list, clown.
Anyone who does business with known crooks deserves to get fleeced.
I knew that Corzine was a crook and that he was going to use his position at MFGlobal to steal, and I didn't even have any money on the line.
It's the acceptance of crooks in the market and the pretense that they're not going to steal everything they can that perpetuates the frauds. If Jon Corzine could not find a counterparty to contract with, he could not have ripped anyone off.
I think people are in denial, maybe they're hoping that they don't have to research and assess their own counterparty risks, in preference to wishing them away.
So, when you ask the next guy in line: "Do you want fries with that?" and you realize he's a crook, do you refuse to serve him? What does your shift manager say?
I know, I know...you DON"T work at Burger King. But you're statements are so stupid that maybe that's where you should be.
If I know someone is a crook I can AND DO refuse to serve him. If everybody did the same there would be a lot fewer of them.
That this seems to be a difficult concept for you speaks to the level at which you have accepted corruption and fraud as a way of life. I refuse to live that life - the corrupt and degenerate are not welcome in my life and they shouldn't be in yours either.
If you got to quit that Burger King job to keep your principles, then you quit the fucking Burger King job. If you don't have the skills to do better than that, then you have no business commenting on the MF Global affair, and if it's the principles you lack, then your opinion ain't worth a damn anyway.
Celente was with Lind Waldock & said he had no idea MF Global was on top of it, and further, Jon Corzine gave what clue to you prior to this incident? Nada? I didn't see it coming but I had no skin in that game so I don't feel too bad except that a criminal got away with a giant bank robbery in the plain light of day in front of billions of witnesses.
It doesn't matter what the list is some of the clients didn't even know they were working through MFG like Lind Waldock clients.
Maybe you ought to read the list noob.
There are about five hundred Corzines in Congress and untold legions in the White House. By that reasoning it's our fault time we haven't bailed out of the good ship USA. Kind of hard to argue.
Don't forget the pitchfork crowd are now planning their routes on Google Maps.
OK, who wants to create MobMashUp.com?
my first thought as well
Malta, Cyprus, Caymans, and of course... many many Londons in there. All Islands of safety, just like Iceland.
Total 1.7bn
WOW!
Bank of America owes £1.65
1.65 WOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOWOO
WOOOOOOOOOOOOOOOOOOOOOOOOOOT!
Mr Sundeep Patel 24 Pembridge Avenue,Twickenham,Middlesex,TW2 6AE,United Kingdom (Eng & Wales) 0.50
Really Respect!
Mr Zafar Iqbal 339 Kilinghall Road,Bradford West Yorkshire,BD3 7JF,United Kingdom (Eng & Wales) 0.76
Winners
Mr Robert Taylor Denbridge Road,Bromley,Kent,BR1 2AG,United Kingdom (Eng & Wales) 0.08
Mr Robert Williams 34 Algers Road,Loughton,Essex,IG10 4NG,United Kingdom (Eng & Wales) 0.19
Call me!!!!
you wouldnt think they received a heads up signal that money will be vaporized, would you? Naawww.
What is Jamie's address? He used to live at 25 East Banks St in Chicago.
Probably a breach of data protection laws.
KPMG may become MF Global's de facto piggy bank (go where the cash is and MF Global has none left) and return the customer capital lost to those on this list via payments from legal settlement for breach of privacy laws.
Looks like some Greek energy interests took it in the shorts with MF Global, as well. As though they needed insult added to injury in Athens.
A new cold calling list.
Remember the paper clip from old Office?
"It looks like you are trying to invest. Do you need some help?"
Just give those clients the addresses where they can find Jon Corzine and senior ex trading managers of MF Global today. Fair trade.
Financial AIDS ? Number one activity to spread AIDS is an infected male screwing another person in their thirsty rectum ! The authorities still have not educated the ghetto dwellers of the importance of condoms when having anal sex ! Think of all the money and suffering....and this most important fact in the propagation of AIDS is not understood ! Black females think that when they take it in the ass...they can't get pregnant....so no condom is necessary....and boyfriend is happy ! Monedas 2012 Political correctness is deadly ! Carry on ! The next time you let JPM screw you in the ass....make them use a condom ?
Not to even mention all of the Santorum as a 'byproduct' of these wacky activities.
Can't vote for Monedas, I'm all in on the Paul/Raw Milk 2012 train. Sorry.
What makes it worse, I don't think OSHA has ever evaluated condoms to see if they can stand up to the rigors of anal sex ! Weren't they designed for vaginal sex ? They need teflon on the outside and rosin on the inside so they will stay put as one puts it through the motions ! Maybe Ron Paul should eliminate OSHA for this dereliction of duty for the common good ? Monedas 2012 Common sense for the public good !
Gene, your Avatar looks like what happens to an anus after a defective anal condom (with the rosin on the outside) is used ! Monedas 2012 The heartbreak of Psoriasis is still with us, too !
I'll do you one better. Look at the size of a virus. Then look at the intersticial size of the crosslinked latex polymer.
Condoms cannot stop viruses. They are about 1000 times smaller than the polymer spacing. The viruses go right through.
Then Nancy was right.....JUST SAY NO ! Monedas 2012 Say no to those who want to use your temple for anal sex ! Hepatitis is a virus too ! The common cold ? You have opened up a virtual can of worms ! The tiny viruses could get lost in the maze of the polymer fiber's intersticial spacings if you had a quickie ?
icanhasbailout
You are right. The condom-handout program is just one more government jobs program charged to taxpayers.
A physician friend once argued that AIDS is not spread by mosquitoes. I asked him why he believed that. His answer: "it just can't happen." Oh yeah?
Well damn me....an I thought they were to put over rifle muzzles......the things one learns..sheeesh.
That's still a valid practice....you don't want to give someone AIDS if your intention is a leg wound ?
Dear KPMG, could you please publish John Corzines and MF Globals corporate officers home address? Thank you.
eddiebe
"Dear KPMG, could you please publish John Corzines and MF Globals corporate officers home address? Thank you."
Comment:
That information wouldn't be that hard to find. May I suggest you use the internet and a service such as http://www.switchboard.com/ .
Bio info on Corzine is readily available. He is 65 years old, former Senator and Governor of NJ (which is where he has residence). Trust me, not to many 65 year olds named Jon Corzine in NJ. I'd tell you the results but then you'd be lazy and I don't want to piss TD to much.
As for MF Global, you can do the same.
717 5th Ave FL 11
New York, NY
One of the most frustrating things I have dealt with from many recent college graduates or simply lazy people, are ones that can't think for themselves or are to damn lazy to do the legwork to find the answer. I have made hiring decisions based upon character over education with great results.
Rich and vunerable, yep all the occupiers now know where the money is. Soon it will be time for the rich to pay up their fair share. Wonder how that will work for them?
Julian Assange works at KPMG?
Funny really as the Data Protection Act covers such things and I was unaware the High Court had overridden it
I reckon those people owed small amounts can recover far more through suing KPMG under the Data Protection Act and equivalent EU legislation than they could ever get back from MF Global.
This whole CF serves as another highlight on the notion of counterparty risk.
"I WANT MY 2 DOLLARS!!!" (I didnt ask for a dime!)
funny, the name of the classic I quoted is what many on that list are wishing....
Better off dead...classic 80s film.....CLASSIC
Well Claradan Futures Ltd can kiss goodbye to their 58 pence investment....
This document is a catalogue of people who didn't see it coming and makes interesting reading.
Bon Appetite
Actually, if they only had 58 pence invested, they probably did see it coming...
.
Nice.... AIG for $960k. GL
Backdoor bailout please
Mr. Alfred Putz of Unteritzmühle 2, Salzweg,Germany,94121 sure feels like one now!
And its no fairy tale for
Hans Andersson Metal AB PO Box 80,0,Enhopry,0,74522,Sweden ....256,256.79 is not a happy ending
.
Banksters: note to other customers who might complain, we will release your personal information too.
Majority of the individuals named seem to be German - why is that?
just a long list of a bunch of wannabe niggas
Not really, just realised that Karma exists and works, just have to be patient enough...
There is one on the list which is suspected to have done a fund where he never invested the money, so called snowball scam....
Herr Dieter Behring Freudackerweg 35,Gipf Oberfrick,CH 5073,Switzerland 3,379,594.39
I am sure it is not known outside of Switzerland, but here in 2008 was huge topic.....
I'd be pissed. Brings new meaning to:
we respect and protect our customers privacy
I can't find anyone by the name "Gerald Celente".
Loads of METAL related Companies , especially in Germany .
FWIW
See how many companies which you think are US or European have their addressed in Bermuda...
Fucking tax avoiding crooks - they deserve to lose everything.
Bank of America is owed £ 1.65
MF-Global was messing with CFD (Contract for Difference)
does anyone here know what a leveraged CFD is ?
(they are not allowed to trade that 50:1 high leveraged CFD shit in the US)
now tell me once more how sorry I should feel for the Farmer who "hedged" their bets on the price of corn, soy, wheat, Oil, Gold, Interest Rates, and which horse will win in Bourke on Sunday...
my heart bleeds for all those poor Farmers !
wr;)
seems WikiLeaks way gains popularity. will there be anyone at KPMG accused of rape and extradicted to Sweden?
Sometimes when your luck's out - it's really out...
B.B. Energy (Gulf) DMCC Bb Energy Management Sa,22 Kifisias Avenue,Paradisos,151.25 Marousi,Athens,0,Greece
$24,772,547.88
Will that just get added to the bill the Germans are picking up?
Here's a reflection on current hard banking times....!
Bank Of America North Tower,26 Elmfield Road,Bromley,Kent,BR1 1WE,United Kingdom (Eng & Wales)
$1.65
Who gets this?
GNI Holdings Limited UK Dissolved on0 8/11/2011,,,, $4,048,266.00
Was this before or after they engineered their early escape? - Biggest so far
JPMorgan Chase Bank NA CRE Finance/ Invoice Processing,60 Victoria Embankment,London,,EC4Y 0JP $100,351,520.45
Oh no!
Self Invested Pension R L Brake C/o Dentons Pension Management Limited,Linden House, Woodside Park, Catteshall Lane,Godalming, $1,796,942.60
I actually spotted some individuals I know - they have kept this quiet - I wonder why...?
Some of the indiviudals (and even some of the small companies) seem to have had rather large balances - now is this because
a) They had so much cash they didn't know what to do with it?
b) They trusted MFGlobal so much they thought "to hell with diversification"
This is schadenfrued served cold and RAW.
Looks like I'll have to make a phone call to my East European friends to do some "jobs" for me :)
"We're not worried....we lease out 'digital space' at the DTCC Re-Hypothecation Warehouse. We don't just raise the rents and skim fees....We take dat 'sh*t' when we feel like it. We are your Overlords."
Regards,
JPM
WTF the FSA!
UK taxpayers money stashed abroad by the UK regulator.
Muppetry dosnt get any better than this!
Please explain.
Why would JPM have to trade through MFGlobal?
Why would BOFA have only 1.65 on an account? Did they sell everything in advance of the bankruptcy or what?
I could not find any individuals listed as blue collar workers.
Also, please provide a list of all physical PM owners please.
No can do?
WHAAATT!?
Why does "CNBC Europe" have a MF Global commodity trading account claim anyways? "CNBC Europe 10 Fleet Place,,London,,EC4M 7QS $5,260.80"
JP listed for $100+m vs. GS $16,924.73
Nice vanishing silver position(s)
Untraceable Clients ? Holding Accounts $2,172,182.03
I guess it's pointless me claiming that?