$500 million found missing from Sentinel's books: report

Discussion in 'Wall St. News' started by rcanfiel, Sep 5, 2007.

  1. http://news.yahoo.com/s/nm/sentinel_probe_dc;_ylt=Ait1NBHfM2l4xEFFMqjtkwoDW7oF

    NEW YORK (Reuters) - Regulators probing the collapse of fund manager Sentinel said an examination had revealed that more than $500 million was missing from its accounts, the Financial Times reported in its online edition on Wednesday.

    Dan Roth, president of the National Futures Association, said the NFA had discovered a $505 million shortfall in Sentinel's books, the report said.

    The development could raise questions over a settlement reached last month in conjunction with hedge fund Citadel Investment Group involving some of Sentinel's creditors, the report said.

    Sentinel representatives were not immediately available.

    (Reporting by Lewis Krauskopf)