Looks like Jonny's luck may have just run out. The former New Jersey governor and CEO of Goldman Sachs is being charged with "the unlawful misuse of nearly $1 billion of customer funds and related violations" in the collapse of MF Global in late 2011. Massive bets on European sovereign debt backfired, leading Corzine to allegedly use customer funds to keep MF Global afloat.
Customers were left reeling after it was discovered that about $1.6 billion was missing from their accounts and that the company had used the money to stop gaps in its business, which unlawful and caused a political fire storm.
I've often wondered about how that conversation went between Corzine and his biggest investors. Something like, "I'm sorry, but I lost your money." "What do you mean, Jon? The bonds we bought went south on us?" "No, I mean I lost your money. Like, I don't know where it is."
I'm glad to see that they're going after a lifetime ban on this asshat. Any of us would be doing time behind a screw-up like this. But we'll have to settle for Corzine being banned for life. That is, unless his lawyer can work some magic.
Guess he's destined for a life in politics. Those guys make a billion dollars disappear every minute of the day.
This is one of the most absurd things I've ever seen, this whole fiasco of allowing Corzine to get away with this for so long with no criminal charges. How on earth can they not bring some form of criminal charges against him. As you said, anyone else would be all but pushing up daisies for this kind of stunt.
Corzine was a lousy CEO and Governor. Glad to see him get PWND.
I'm loving this! Remember when he told congress that the money seems to have "vaporized". VAPORIZED?! I didn't learn that term in accounting school.
He's got some folks at Justice eyeing him for perjury charges for that little song and dance.
there is no justice if this guy does not serve any time. It's still a mystery to me why he have not been formally charged for criminal acts.
Holder's gonna Holder...what did you expect? Actual criminal charges? It's funny that the royal pain in the ass that is SarbOx was supposed to absolutely stop Corzine's negligence defense. Why even have it?
The guy looks like Boss Tweed, which makes a lot of sense.
Dolores et at velit debitis magnam maxime incidunt. Rerum aspernatur esse porro occaecati. Et et deserunt minus voluptatem et aspernatur.
Ipsum minus fugit voluptas itaque aliquid doloribus odit. Aut voluptas dolorum ea consectetur vel voluptatem vel. Cupiditate id et facere et dolores sunt laborum.
Est maxime ipsum quis. Ut beatae recusandae omnis accusantium labore.
Iste non corrupti distinctio neque voluptatem aliquid. Tempora in et beatae eius qui a. Ipsa excepturi et modi voluptatem dolores inventore quo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...