Witnesses Complicate Corzine’s Testimony on MF Global Money
Witnesses close to MF Global’s collapse will offer details Wednesday about customer money that vanished days before the firm failed. Their testimony could challenge statements by former CEO Jon Corzine.
A JPMorgan Chase executive will testify at a congressional hearing that the bank asked Corzine if an Oct. 28 transfer of $200 million from a customer account satisfied federal rules. Corzine said the issue would be reviewed, according to the executive’s testimony.
Lawmakers will likely press MF Global’s former assistant treasurer about an email she wrote that suggests Corzine ordered that transfer.
MF Global filed for bankruptcy protection Oct. 31. About $1.6 billion in customer money remains missing.
Corzine, a former New Jersey senator and governor, told lawmakers in December that he never instructed anyone to misuse customer money.
(Copyright 2012 by The Associated Press. All Rights Reserved.)