The investigation into MF Global is intensifying as federal authorities unearth new details and confront potential obstacles in their hunt for roughly $1.2 billion in customer money that disappeared from the brokerage firm. (more)
Two weeks before accountants discovered $1.2 billion missing from client accounts at MF Global, company CEO Jon Corzine was shopping with his wife in the South of France for a multi-million-dollar chateau. The scandal-ridden company subsequently filed for bankruptcy protection. (more)
Corzine obviously really didn’t see it coming. (more)
Commodity Customer Coalition founder James Koutoulas is requesting that MF Global bankruptcy Judge Martin Glenn investigate three potential legal issues that are said to have occurred in transferring of MF Global assets. The key issues include the fact that JP Morgan was able to purchase MF Global bonds at a discount without any open bidding process and the assets were apparently sold without disclosure to or approval from the U.S. bankruptcy court or trustees. The third issue centers on JP Morgan seeking special favors from the Federal Reserve to receive priority treatment over investor segregated fund accounts. (more)
WASHINGTON (AP) — Jon Corzine’s three days of testimony on MF Global’s collapse offered little to satisfy lawmakers or clients who lost millions when the securities firm failed. Yet legal experts say Corzine helped himself by choosing words with care and articulating an explanation that’s hard to disprove. (more)
WASHINGTON (AP) — Questioned by senators he once served with, Jon Corzine told a panel Tuesday that he never told anyone to “misuse” customer money that vanished when MF Global collapsed this fall. (more)
WASHINGTON (AP) — Senators are demanding to know what happened to $1.2 billion in customer money that disappeared when MF Global collapsed into bankruptcy this fall. They plan to press the securities firm’s top three executives Tuesday, including former Sen. Jon Corzine. (more)
WASHINGTON (Reuters) – Top-ranking executives at MF Global will tell lawmakers on Tuesday that they do not know what happened to hundreds of millions of dollars in missing customer funds, echoing what their former colleague Jon Corzine told Congress last week. (more)
About $2 billion worth of European bonds owned by MF Global were bought by billionaire investor George Soros‘s family fund, the Wall Street Journal wrote on Friday, quoting people close to the matter. (more)
Jon S. Corzine, the former U.S. senator and New Jersey governor who presided over the collapse of the commodities brokerage MF Global, says he cannot explain what happened to “many hundreds of millions of dollars” that the firm was holding for customers. (more)
WASHINGTON (AP) — Summoned by Congress, Jon Corzine embraced a bold strategy Thursday to distance himself from MF Global’s fall and $1.2 billion in missing clients’ money: (more)
During a 2009 re-election campaign appearance for then-New Jersey Gov. Jon Corzine, Vice President Joe Biden told a crowd that he personally called Corzine for economic advice during the financially uncertain months between the 2008 presidential election and inauguration day. (more)
(Reuters) – Regulators investigating the collapse of MF Global have determined that the firm combined money between securities and futures accounts owned by customers, and transferred funds outside the country to at least one entity, a source said on Friday. (more)
WASHINGTON (AP) — A congressional panel has voted to subpoena former Sen. Jon Corzine to testify next Thursday about his role leading MF Global, a brokerage firm that collapsed this fall after a disastrous bet on European debt. (more)
Jon Corzine bet $11.5 billion on European sovereign debt in his bid to rebuild profits at MF Global Holdings Ltd., almost twice the net amount disclosed to investors, and relied on short-term hedges that left the firm exposed to larger losses if they couldn’t be rolled over. (more)
In a 2009 campaign ad that first surfaced online on November 10, Jon Corzine, then the sitting governor of New Jersey, boasted the strong endorsement of President Barack Obama. Corzine lost his re-election bid to then-U.S. Attorney Chris Christie, and later became the subject of intense scandal when his brokerage, MF Global Holdings Ltd., filed for bankruptcy protection on October 31. (more)
MF Global Inc.’s workforce of 1,066 broker-dealer employees was fired as the failed brokerage closes its New York office and liquidates in an attempt to return assets to customers under the guidance of a trustee. (more)
In 2009, President Barack Obama said he didn’t run for office to help out “fat cat bankers,” but it appears that he has no problem with fat cat bankers — or the fat cat law firms who represent them — helping him. (more)
Before announcing his resignation from MF Global this morning, Jon Corzine retained legal counsel from Andrew Levander, a partner at leading Wall Street law firm Dechert. (more)
Former New Jersey Gov. Jon Corzine is out of a job now that the Wall Street firm he headed, MF Global, has gone bankrupt, but don’t worry. He’ll be just fine. (more)
