Jon Corzine, former head of MF Global, who was subpoenaed last week to testify in front of Congress, could shed some insight over where the missing MF Global funds ended.

According to James Frischling, president and co-founder of NewOak Capital, there is tremendous speculation that the $1.2 billion of customer funds that went missing in the aftermath of the MF Global debacle were used by the company to cover margin calls on bets made on European debt gone wrong.

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