5 Biggest Corporate Frauds in US History

4. MF Global

Estimated Losses: $41 Billion

As noted by PBS in May 2012, MF Global was a brokerage firm that collapsed in October 2011, losing about $1.6 billion of customer money in the process. The firm’s customers were mainly farmers, grain operators, and hedge funds who traded in commodities like wheat and corn. The company’s former CEO, Jon Corzine, tried to transform the firm into an investment bank and took risky bets on European debt that backfired.