SEC probes Refco following exec's departure

Oct 11, 2005 | 02:39 PM | Sean Barry

The U.S. Securities and Exchange Commission (SEC) is investigating New York-based futures brokerage Refco Inc. after the company announced that Phillip R. Bennett, chairman and chief executive officer, had taken a leave of absence following the discovery that $430 million was owed to the company by an entity run by Bennett.

AMM has learned that the SEC's probe into the company, which is the parent of London Metal Exchange Category-1 member Refco Overseas Ltd., has already started.....

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