A congressional committee investigating how $1.6 billion in customer funds went missing from bankrupt brokerage MF Global said Friday that it’s found evidence that then-CEO Jon Corzine directed a senior executive to use $200 million of clients’ money.According to a memo from a House Financial Services subcommittee, the probe found that Corzine authorized the transfer of customer funds, citing an email from Edith O’Brien, the firm’s assistant treasurer.
| +30 | ADHD ! | 14 | 14h | |
| +30 | Non-Competes Banned | 37 | 6s | |
| +29 | Being Christian in investment banking | 14 | 3d | |
| How do I become Sigma | 15 | 1d | ||
| +19 | Moelis has the cutest Analysts? | 4 | 2d | |
| +18 | Best NYC neighborhood for single 30M | 12 | 4d | |
| +16 | Underage intern, drinking? | 7 | 3d | |
| +13 | Secretive vs Universal Prestige? | 7 | 2d | |
| +10 | What are divorce rates in IB? | 13 | 5d | |
| +9 | Drunk in an interview | 5 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
It's the HONORABLE John Corzine.
did Obama really say that NJ kids are now at the "top of the country in reading a map" because of Jon Corzine??!!
thats awesome
Reading and Math
This whole thing is a pet peeve of mine. Even in the extremely small chance Holder actually does his job for once, JC will be a prime candidate for a pardon.
I was discussing this with Josh Brown. Obviously, he wants to see Corzine go down for the count on this one (as do I), but I pointed out to him that the law of large numbers will intervene. In other words, if Corzine stole $2 million he'd probably get 40 years, but since he stole $200 million he'll probably get off scott free.
http://www.youtube.com/embed/r9twTtXkQNA
Also remember that Corzine had input in writing the regulations which govern the use of customer funds. I think there is a good chance that he did nothing illegal but the govt. is desperately trying to find a way to charge him.
http://mobile.bloomberg.com/news/2011-11-16/tiny-rule-change-was-at-the…
Quam tempore iusto voluptatem repudiandae corrupti minima eligendi. Accusantium perspiciatis tempora nisi reiciendis quia. Delectus at corporis non et animi aut similique omnis. Tempora quo non necessitatibus illum blanditiis reprehenderit.
Rem laboriosam officiis ratione. Eligendi iusto optio natus sed ex facilis velit doloribus. Velit ut assumenda occaecati aut est temporibus animi. Ut unde deleniti iure itaque atque et dolores. Consequatur aut nesciunt est debitis. Aut accusamus aliquid eligendi autem.
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...