Nevermind that I am an investor in a Refco futures fund (gulp…hmm…gulp). It is cash that investors in the company need to worry about, as shit has certainly hit the fan over there.
A guy once touted as a “top flight” CFO is headed to the slammer, the company filed Chapter 11, and the vultures are now circling.
This stuff is old hat. The IPO, mutual fund, and insurance marketplaces have all seen their fair share of scandal. However, the future of financial services is all a matter of perspective. While one guy in the insurance business makes his way to jail, another involved in some shady dealings preps a new billion dollar investment fund.