As much as $1.2 billion or more in customer funds is missing from former New Jersey Gov. Jon Corzine’s bankrupt financial firm MF Global, according to a report on Monday.

Court-appointed bankruptcy trustee James Giddens said in a statement that it is likely $1.2 billion — double previous estimates — is gone from clients accounts, the Associated Press reported. It was earlier reported that about $700 million in customer money couldn’t be found.

Giddens noted the $1.2 billion figure was preliminary and subject to change.

These new figures come in the wake of MF Global sacking all of its 1,066 employees on Nov. 11, as the company completely shuts down and processes its bankruptcy claims.

Corzine resigned as chair and CEO of MF Global in early November. Federal regulators are currently investigating his firm to see if it used customer money as it was collapsing, which would be a violation of securities rules, the AP reported.

Corzine, who lost the 2009 gubernatorial election to Chris Christie even after President Barack Obama stumped for him, previously served as a Goldman Sachs co-chair and later a U.S. senator.

Giddens has already returned $1.5 billion to customers, and will soon pay out another $520 million, the AP wrote.

(Source: Politico)