MF Global trustee Freeh seeks additional $1 million in fees

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Freeh already asked for nearly $2 million in fees, but agreed to a slight reduction after the Department of Justice criticized him and his law firm for vague time records.

The trustee listed the negotiation with MF Global's UK subsidiary that resulted in the return of $30 million to the company among the services rendered by him and his team.

Freeh, who also cited his work on securing $21 million in tax refunds for MF Global, said in a court application filed on Monday that he could have asked for about $4 million in fees.

Regulators found that MF Global, run by former New Jersey Governor and Goldman Sachs CEO Jon Corzine, had misappropriated money in client accounts. Customers are expected to recover all their money.

MF Global is liquidating after filing for bankruptcy in 2011. Its creditor payback plan was approved in April in the U.S. Bankruptcy Court in Manhattan.

The case is In re: MF Global Holdings Ltd, U.S. Bankruptcy Court, Southern District of New York, No. 11-15059.

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kansas  |  August, 20, 2013 at 11:30 PM

Something fishy in this report. Never before has anyone said "customer are expected to recover all their money", even Freeh. Where did this new, unexpected information come from? Oh, and why is there nothing regarding further investigation and the potential for criminal charges against Corzine that was mentioned in other reports? Gov/Senator OBAMA Super Fundraiser Corzine should not be living large and free on the backs of those from whom he defrauded million$.

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