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Another trustee, James Giddens, is overseeing the liquidation and recovery of lost money at MF Global Inc., the broker-dealer arm of the company that farmers, ranchers and business owners used to hedge their risks against fluctuating crop prices. When MF Global collapsed, more than $1 billion in customer money was discovered to be missing. Giddens was locked in a dispute with JPMorgan Chase, which had held MF Global funds in several accounts and also processed the firm's securities trades. Giddens and JPMorgan had reached an agreement where JPMorgan would return money that MF Global Inc. had transferred to it. Judges in New York will consider whether to approve that settlement on July 3. No one has been charged in the MF Global case. Federal regulators, Congress and a federal grand jury in Chicago have investigated MF Global's failure and the disappearance of customers' money.
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