December 13, 2011
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 from the securities firm explain who authorized the transfer of money in the days before the firm became 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.