Refco tumbles again, blames ex-CEO on accounting

Business News & Financial News | Reuters

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By Jonathan Stempel

NEW YORK, Oct 11 (Reuters) - Refco Inc. (RFX.N: Quote, Profile, Research), on Tuesday said its recently removed chief executive took steps to inflate its balance sheet, in a scandal that has caused the commodities and futures broker's shares to fall 52 percent in two days.

The announcement shed more light on a complex transaction disclosed two months after the company raised $583 million in an initial public offering.

New York-based Refco on Tuesday also said it voluntarily contacted the Securities and Exchange Commission, the Commodity Futures Trading Commission and the New York Stock Exchange about the accounting matter, and is cooperating.

The Wall Street Journal in its online edition said the SEC has launched an inquiry into Refco, citing an unnamed person with knowledge of the probe.

ＩＰＯで集めたお金をＣＥＯが自分が関わっている会社に回したようだ。ＳＥＣには自主的に報告してＣＥＯを首にしたようだが、こういうお金の動きをしっかりと監視するシステムが機能していたからわかったのかな？