MF Global ordered to pay $1.2 bn

A federal court in New York has ordered MF Global Holdings Ltd to pay $1.2 billion in restitution and a $100-million penalty over charges it misused customers funds and committed related supervisory violations, the US Commodity Futures Trading Commission said on Wednesday.

The CFTC said its litigation will continue against former MF Global Chief Executive Jon Corzine and former Assistant Treasurer Edith O'Brien.