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Corzine Testimony: I don’t know where firm’s missing money is

Posted By yihan On December 8, 2011 @ 8:45 am In Featured Stories,Tile | Comments Disabled

Becket Adams
The Blaze [1]
Thursday, December 8, 2011

Jon Corzine plans to tell a House committee that he doesn‘t know the location of clients’ money that went missing from failed investment firm MF Global.

The former U.S. senator has been subpoenaed to explain how MF Global, which he led for about 20 months, collapsed into the eighth-largest bankruptcy in U.S. history and why an estimated $1.2 billion in client funds is unaccounted for.

In prepared testimony posted Thursday on the House Committee on Agriculture’s website, Corzine apologizes to “all those affected” by MF Global’s failure. The company filed for bankruptcy protection on Oct. 31. Corzine resigned as CEO on Nov. 3 and hasn’t spoken publicly since.

“I simply do not know where the money is, or why the accounts have not been reconciled to date,” Corzine says in the statement. He says he can’t say whether there were “operational errors” at MF Global or whether banks or other companies have held onto funds that should be returned to MF Global.

Full story here. [1]


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URL to article: http://www.prisonplanet.com/corzine-testimony-i-dont-know-where-firms-missing-money-is.html

URLs in this post:

[1] The Blaze: http://www.theblaze.com/stories/corzine-testimony-i-dont-know-where-firms-missing-money-is/

[2] You Won’t BELIEVE How Much Money Jon Corzine Could Walk Away With From MF Global: http://www.prisonplanet.com/you-wont-believe-how-much-money-jon-corzine-could-walk-away-with-from-mf-global.html

[3] Jon Corzine Still Bundling for Obama: http://www.prisonplanet.com/jon-corzine-still-bundling-for-obama.html

[4] MF Global Swindle: House Committee Not Likely to Play Hardball with Corzine: http://www.prisonplanet.com/mf-global-swindle-house-committee-not-likely-to-play-hardball-with-corzine.html

[5] Corzine Directly Ordered Transfer of Stolen Customer Funds: Gerald Celente Reports: http://www.prisonplanet.com/corzine-directly-ordered-transfer-of-stolen-customer-funds-gerald-celente-reports.html

[6] Jon Corzine will not face criminal charges over MF Global: report: http://www.prisonplanet.com/jon-corzine-will-not-face-criminal-charges-over-mf-global-report.html

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