24. MF Global
Year: 2011
Approx. Amount: $1.6 Billion*
Company / Person Involved: Jon Corzine
Halloween 2011 was an especially scary time of year for MF Global’s investors as on that day the stock was halted and, before anyone outside of the boardroom knew what was happening, the multinational futures broker and bond dealer had filed for Chapter 11. With $41 billion worth of assets at the time of the company’s bankruptcy declaration, the collapse of MF Global puts it in the top ten biggest bankruptcies in U.S. history.
MF Global ©Alex Wong / Gettyimages.com
More than a year after filing Chapter 11, close to $1.6 billion worth of assets are still unaccounted for and having declined a severance package of $12.1 million. Some investigators have been inclined to point a few fingers at the company’s former CEO, and former Goldman Sachs Chairman, Jon Corzine. To date, no charges have been filed.