MF Global missing money now $1.6 billion, trustee says Investigators don't know where it is, but they know it's a lot more money than they originally estimated. James Giddens, the trustee overseeing the broker's bankruptcy proceedings, said Friday in a statement e-mailed to news agencies that he estimates there's $1.6 billion of clients' money missing, $400 million more than original estimates. Giddens has been combing through the accounts of MF Global, which was headed by former New Jersey Gov. Jon Corzine, since it filed for bankruptcy protection on Oct. 31. He noted in his statement that the figure could change again. Reuters reported that Giddens said the new estimate stemmed from claims from customers who traded on both U.S. and foreign exchanges, with about $700 million still in dispute with the British administrators of MF Global UK Ltd. The trustee's spokesman was not available for comment. The statement said the trustee has so far returned about $3.9 billion in commodity customer funds, and said about 91 percent of outstanding claims were for less than $100,000. "The Trustee is eager to make additional distributions to former MF Global Inc customers as soon as possible," the statement said. However, the Trustee is required by law to hold an appropriate reserve of funds until disputed claims are resolved either through negotiation or by the Court. At this time, the Trustee anticipates significant disputed claims against the MF Global Inc. estate by MF Global Holdings Ltd., MF Global UK Limited, and other entities.