Jon Corzine news stories on Newser

Email on Money Transfer Could Be Trouble for Corzine

John Johnson — Sat, 24 Mar 2012 07:18:26 CDT

Jon Corzine may not be in legal hot water just yet over MF Global's missing money , but the temperature's definitely getting warmer thanks to a newly surfaced email. It shows that the former CEO ordered the transfer of $200 million from a fund with customer cash to cover a shortfall...

MF Global's Missing Cash May Be Gone Forever

Matt Cantor — Mon, 30 Jan 2012 13:09:19 CST

As officials search for the remainder of missing MF Global cash—which one insider puts at more than $1 billion—some are starting to fear the worst. In the words of one source to the Wall Street Journal : A "significant amount" of the money could have "vaporized," impossible to track...

Emails Offer Clues to Missing MF Global Millions

Rob Quinn — Wed, 21 Dec 2011 01:30:00 CST

Investigators on the trail of the $1.2 billion in customer funds still missing after the collapse of MF Global have found emails detailing money transfers made in the securities firm's dying days at the end of October. One email chain details the transfer of $200 million—believed to have...

Regulator: Corzine Knew About Client Cash Grab

Kevin Spak — Wed, 14 Dec 2011 10:31:05 CST

Jon Corzine disavowed all knowledge of MF Global's missing client funds in his latest Capitol Hill testimony yesterday, telling a Senate panel that he had "never directed anyone" to dip into customer funds. But soon after, the chairman of CME Group—MF Global's regulator—testified that Corzine not only knew...

Corzine: 'I Simply Do Not Know Where the Money Is'

Kate Schwartz — Thu, 08 Dec 2011 08:36:49 CST

In an appearance before a House panel today, Jon Corzine plans to offer up an apology—but not much else. "I simply do not know where the money is, or why the accounts have not been reconciled to date," the former MF Global chief will testify before the House Committee...

Corzine Blew Off Risk Officer

Kevin Spak — Tue, 06 Dec 2011 08:31:41 CST

Jon Corzine can’t say that nobody warned him that his bets on European debt might ruin MF Global, because his chief risk officer did just that—repeatedly. Michael Roseman told Corzine that the company didn’t have the cash to handle the risk it was taking on, and that a credit...

House Panel Subpoenas Corzine

Fri, 02 Dec 2011 15:55:46 CST

A congressional panel has subpoenaed Jon Corzine to testify next week about his role leading MF Global, the brokerage firm that collapsed five weeks ago after a disastrous bet on European debt. Thursday's hearing will be a rare moment in Washington. Congressional historians and Capitol Hill insiders cannot recall another...

MF Global's Missing Cash Doubles to $1.2B

Kevin Spak — Mon, 21 Nov 2011 12:59:55 CST

MF Global’s problems might be even bigger than advertised—as in twice as big. James Giddens, the trustee overseeing the case, says the company now appears to be short $1.2 billion in client funds—or twice the roughly $600 million previously believed, the Wall Street Journal reports. What’s more,...

Smart People Are Ruining America

Matt Cantor — Sun, 06 Nov 2011 15:11:00 CST

In this country, we applaud those who have the brains to build themselves up from nothing—but it’s those very brains that got us into the current economic mess. Over the past decade, America’s elite has driven us “off a cliff—mostly by being too smart for its own good,...