Corzine apologizes for collapse of MF Global


Reuters
December 9, 2011

Jon Corzine, the former chief executive officer of MF Global, apologized to a U.S. House panel on Thursday for the collapse of the brokerage and said he was “stunned” when he first learned customer funds were missing.

“I simply do not know where the money is, or why the accounts have not been reconciled to date,” said Corzine in lengthy prepared remarks before the House Agriculture Committee.

“I sincerely apologize, both personally and on behalf of the company, to our customers, our employees and our investors, who are bearing the brunt of the impact of the firm’s bankruptcy.”

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