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News Link • Corruption

Corzine and 2 other MF Global execs aim to distance themselves from missing clients’ money

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.
An estimated $1.2 billion in client funds are missing. Senators are demanding that Corzine and two other executives at the securities firm explain who authorized the transfer of money in the days before the firm collapsed in the eighth-largest bankruptcy in U.S. history.
“I never gave any instruction to anyone at MF Global to misuse customer funds,” Corzine testified at a hearing of the Senate Agriculture Committee on Tuesday.”

Former U.S. Senator Jon Corzine tells a House panel he accepts responsibility for his former firm MF Global's risky bets and said its customers' losses weigh on his mind 'every day, every hour.' But he does not know where some money is.

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