Photo: Lisa Du, Business Insider with AP
The COO, CFO and general counsel of MF Global are expected to receive performance-related payouts under a bankruptcy plan submitted by the failed investment fund’s trustee, the Wall Street Journal’s Aaron Lucchetti and Mike Spector report.The bonuses for Brian Abelow, Henri Steenkamp and Laurie Ferber would be worth hundreds of thousands of dollars.
All three executives kept their jobs after the company’s Oct. 31 failure in order to help trustee and former FBI director Louis Freeh unwind the company.
“Under the expected pay plan, the three executives and as many as 20 other MF Global employees working for Mr. Freeh would get the bonuses only if they hit specified targets such as increasing the value of MF Global’s estate for creditors,” Lucchetti and Spector write.
While none of the three has been accused of wrongdoing, investigators continue to scrutinize the role top executives at the company played in misplacing $1.6 billion of customers’ funds, the WSJ reports.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.