Thursday, Oct 27th

Last update05:20:13 AM GMT

You are here News Economy Feds charge Jon Corzine for role in MF Global collapse

Feds charge Jon Corzine for role in MF Global collapse

E-mail Print PDF

Jon CorzineFinancial regulators are taking aim at Jon Corzine for his role in the 2011 collapse of brokerage MF Global, announcing on Thursday that they are filing civil charges against the former New Jersey governor and senator.

The Commodity Futures Trading Commission said it is suing Corzine, who was MF Global’s chief executive, and the firm’s former Assistant Treasurer Edith O’Brien for the unlawful use of about $1 billion in customer funds that “harmed thousands of customers and violated fundamental customer protection laws on an unprecedented scale.”

Corzine, the onetime head of Goldman Sachs, returned to Wall Street when his political career ended in 2009 after he lost his reelection contest to current New Jersey Gov. Chris Christie.

But his attempts to transform MF Global into more of a Wall Street player blew up in late 2011, when the firm was forced to file one one of the largest corporate bankruptcies in history, which revealed more than $1 billion of missing customer money.


Most Recent Related Stories...

WEF: Gender wage gap will not close for 170 years

Gender wage gap not ot end for 170 yearsEfforts to close gender gaps in pay and workforce participation slowed so dramatically in the past...

SEC charges hedge fund manager Leon Cooperman, Omega Advisers with insider trading

SEC charges hedge fund operator with insider tradingBillionaire Leon Cooperman and his Omega Advisors hedge fund were charged Wednesday with insider trading, the...

Gannett to lay off two percent of workforce

Gannet to lay off 2 percent of workforceGannett, the largest U.S newspaper company, is cutting another two percent of its workforce. That cut,...

Deutsche Bank faces new blow as Justice Department demands record $14B

Deutche bankDeutsche Bank faces the prospect of having to tap shareholders for more cash after the U.S....
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!