MF Global Holdings Ltd.’s collapse into bankruptcy on Monday has led the FBI to investigate whether at least $700 million in customer funds is missing.

The New York securities company, which former New Jersey Governor and ex-Goldman Sachs Co-Chairman Jon Corzine leads, was attempting to sell its assets to a rival company, Interactive Brokers Group Inc., when the potential buyer discovered a discrepancy in the company’s books. MF Global then quickly collapsed, becoming the eighth largest bankruptcy in U.S. history.

The Wall Street Journal reports that if the FBI finds that customer money is missing, the bureau may open a criminal investigation to look into the case. The Journal also reports that the Commodity Futures Trading Commission (CFTC) voted to issue subpoenas to seek more detail and warn MF Global to refrain from document destruction.

MF Global “reported possible deficiencies in customer futures segregated accounts held at the firm,” the CFTC and SEC told ABC News. Last year, the company attempted to increase its profits by purchasing European debt at a cheap price.

However, the risk did not pay off, as MF Global holds a debt of $39.7 billion, with assets of $41 billion, according to the bankruptcy filing.