$525M in fake bonds held at Refco offshore

Discussion in 'Wall St. News' started by late apex, Mar 15, 2006.

  1. Just when you thought you'd seen it all, in the ongoing Refco saga... Saw the breaking story on Bloomberg early this morning; here's a nicely detailed report on their website (also 2 video clips):


    "All of a sudden, half a billion dollars of liabilities just vanished," said Howard Seife, a lawyer at Chadbourne & Parke in New York who represents Refco creditors. "No one appeared on their behalf in court. It was as if they didn't exist."