Barret Capital Management accused of using client funds for its own purposes

January 17, 2012 by · Leave a Comment
Filed under: Legal News 

With the ongoing lack of answers and clients funds in the MF Global fraud, we have another alleged instance of a trusted financial fiduciary using their clients money to trade on the companies book for internal profits.  The investors at Barret better put pressure on the regulators to prosecute this as hard as possible and not let them get off the hook by admitting no wrong-doing.   It was a joke watching the C-span hearings of former MF Global boss Jon Corzine.   He sat up their and told people about his intentions, in my opinion, that does not matter.

You should not be able to use your “intentions” as a defense.   We HOPE, your intentions were not to mis-use a clients trust in you and your company.  The facts are the facts and if we want a healthy and functioning banking, capital markets and regulatory system, we need to take a very hardline approach on this type of behavior, too many people are getting off with too little admitted guilt.  Why are the people who are their to protect us, so capture that they can’t seem to do their job effectively?

Winnipeg Free Press – One of Canada’s investment regulators has accused Barret Capital Management, a firm specialized in futures and options on metals and other exchange-traded commodities, of using client money for its own purposes.

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