Commodity trading advisers James Koutoulas and John Roe, who manage client money invested in the futures market, were among the investors and traders who lost personal and customer funds in the meltdowns of MF Global Inc. and Peregrine Financial Group Inc. After the MF Global collapse, they created the Chicago-based Commodity Customer Coalition to bring together customers to fight in Bankruptcy Court for the return of their MF Global money. The group also asked Congress for legal and regulatory changes that would better safeguard customer funds.
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MF Global Trustee’s Report Blasts Corzine
The Wall Street Journal
James Koutoulas advocate for commodity customers- Chicago Tribune “This makes it 3-for-3 for official reports that blame [Mr. Corzine] for the collapse,” said James Koutoulas, a commodities investor and lawyer representing some of the firm’s former customers. -
MF Global Customers to Recoup $546 Million
The Epoch Times
The trustee of bankrupt MF Global Inc. settled a dispute with J.P. Morgan March 19 that will see $546 million returned to customers. Some experts think the settlement helps to return client funds quickly while others think J.P. Morgan got off too easy. -
Hedge- fund manager an impassioned advocate for commodities customers
Koutoulas quickly rallied thousands of customers using social media. It was a voice filled with idealism that the people who harmed investors would be held accountable. On CNBC appearances, Koutoulas said things that many were afraid to say publicly. He called Corzine a criminal, suggested that the head of the U.S. Commodity Futures Trading Commission should step down and criticized giant investment bank JPMorgan Chase & Co. for apparent conflicts of interest in the bankruptcy case.
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Kick the bum out: Regulator set to weigh lifetime ban for Corzine
New York Post
Roe and James Koutoulas, who helped recover money for MF’s jilted customers, plan to present the proposed ban as their first action as NFA directors. Both were elected in January. MF’s 2011 downfall led to regulatory probes and hearings on Capitol Hill after it was discovered that Corzine’s company improperly tapped $1.6 billion in customers’ funds leading up to its bankruptcy filing. -
Top 20 most influential: 2012 movers and shakers
Futures Magazine
JAMES KOUTOULAS/JOHN ROE, co-founders of the Commodity Customer Coalition. As the MF Global debacle passed its one-year anniversary, Koutoulas and Roe continued to advocate on behalf of former MF Global customers and industry reforms, appearing before Congress to promote their reforms, including an insurance plan modeled after the Canadian regulatory regime. The CCC also stepped up for PFGBest customers after the unthinkable happened again. -
Koutoulas, Roe Discuss Corzine’s Testimony from the US Capitol
Counsel for MF Global customers, James Koutoulas and John Roe discuss Jon Corzine’s court testimony in which he stated that he has no idea what happened to 1.2 billion dollars of customer funds. Koutoulas calls the testimony both “cowardly” and a “cop-out.”
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James Koutoulas @jamesKoutoulas Talks MF Global, Jon Corzine, Risk, Future of Futures @MissTrade
James Koutoulas @jamesKoutoulas Talks MF Global, Jon Corzine, Future of Futues with @MissTrade @AgrimanGroup
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The Case Against Corzine
ZeroHedge
If Corzine is allowed to walk, it sends the message to not just the futures industry, but the entire US financial complex, “You can steal customer money from not just commodities accounts, but savings accounts, checking accounts, 401ks, and IRAs so long as you pay Obama 500k in bundled protection money, err, campaign contributions.” And, while the current administration clearly doesn’t care about the integrity of markets, I do. -
Cornering Corzine
Rick Santelli and Council for MF Global customers, James Koutoulas, discuss Corzine’s choice between going out of business, or cheating his customers. Koutoulas states, “The next time a sociopath CEO says, do I go out of business or do I cheat, He’s going to think about the president’s biggest fundraiser in an orange jumpsuit in state prison.”