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NEW YORK (AP) - One of the world's biggest commodities brokerages Monday said its chief executive took an indefinite leave of absence after the company discovered he had secretly transferred $430 million of the company's assets to a firm he controlled.
Refco Inc. also said its financial statements since 2002 "should no longer be relied upon" and that it would delay filing its quarterly earnings release originally slated for next week.
The news sent Refco shares plunging $12.96, or 45 percent, to close at $15.60 on the New York Stock Exchange.
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