Refco Group has issued a statement saying that the chief executive and chairman of Refco Inc, Phillip Bennett, has been found in an internal review to be in control of an entity that owed the firm around $430m. As a result, the firm said Bennett has taken a leave of absence "at the request of the board of directors".
The initial signs were that Bennett may not be expected to return to duty in the near future, as Refco's statement also announced that William Sexton had been appointed to his role as chief executive. Sexton...