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(RAT) Corzine's firm admits to using clients' money, fed says (FBI investigates missing $600 mil)
NH Register ^ | 11/02/11

Posted on 11/02/2011 4:12:41 AM PDT by Libloather

Corzine's firm admits to using clients' money, fed says
By Associated Press
Published: Wednesday, November 02, 2011

WASHINGTON — MF Global, the securities firm led by former New Jersey Gov. Jon Corzine, admitted using clients’ money as its financial troubles mounted, a federal official says.

An MF Global executive admitted that to federal regulators in a call early Monday, after regulators raised questions about the company’s books, according to an official familiar with the conversation.

It is not clear where the money ended up or what it might have been used for, said the official, who spoke on condition of anonymity because he wasn’t authorized to discuss an investigation by federal regulators.

**SNIP**

The investigation of MF Global Holdings Ltd. is preliminary. A formal investigation by the company’s main regulator, the Commodity Futures Trading Commission, requires a vote by its five commissioners.

It isn’t clear whether the violations could lead to criminal charges.

(Excerpt) Read more at nhregister.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: corzine; fbi; global; mf
FBI investigating missing money at MF Global

Judge grants $8 million 'lifeline' to MF Global

1 posted on 11/02/2011 4:12:44 AM PDT by Libloather
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To: Libloather

And, where were the audit guys?


2 posted on 11/02/2011 4:14:47 AM PDT by pepsionice
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To: Libloather

What’s the difference between Corzine and Madoff?

Other than one is a Dem Politician who will never see prison time.


3 posted on 11/02/2011 4:17:01 AM PDT by hattend (If I wanted you dead, you'd be dead. - Cameron Connor)
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To: Libloather

Three rocks of crack in Cali and you’re in for life. $600 million and you might get a sternly worded memo from the SEC.


4 posted on 11/02/2011 4:18:35 AM PDT by SpaceBar
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To: hattend

Dear God. What a disgrace. And he was once elected as governor of my state. He was a disgraceful governor as well.


5 posted on 11/02/2011 4:22:20 AM PDT by miss marmelstein (Let's have a Cain Mutiny!)
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To: pepsionice

I’m sure that someone will finally read all of Dodd/Frank and discover a little gem in there that allowed this to happen. Nothing is by happenstance and with Corzine being an insider (democrat government wise), was give the trail to find it before it became law.


6 posted on 11/02/2011 4:22:42 AM PDT by mazda77 (and I am a Native Texan)
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To: Libloather

7 posted on 11/02/2011 4:22:48 AM PDT by dead (I've got my eye out for Mullah Omar.)
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To: Libloather
I'll see if I can find a source, but I thought I saw/heard on CNBC this morning that lawyers for the company told the bankruptcy court that no client money was missing.

Wonder if MFG got a bailout after all....?

And on an MFG related note...

Deloitte accused of losing clients money

But if there's no money missing now, I'm really wondering about a bailout.

8 posted on 11/02/2011 4:27:56 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: mewzilla; Libloather
Here's a link....

MF Global Funds Are Accounted For, Held by Brokerage, Lawyer Tells Judge

Was there a bailout after all? If so, by whom and with whose money....?

9 posted on 11/02/2011 4:31:24 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: pepsionice

Getting advice from the guys who investigated Gary Winnick, Terry McCauliffe and Global Crossing

Call in Michael Milken as a ocnsultant


10 posted on 11/02/2011 4:37:34 AM PDT by silverleaf (Common sense is not so common - Voltaire)
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To: dead

Would you pay to have lunch with either of these men?

Imagine.


11 posted on 11/02/2011 4:43:56 AM PDT by silverleaf (Common sense is not so common - Voltaire)
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To: mewzilla
Liquidation for MF Global Underway

And what I'd still like to know: What did the admin, regulators, and ratings agencies know and when did they know it?

12 posted on 11/02/2011 4:44:09 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: mewzilla
WASHINGTON — MF Global, the securities firm led by former New Jersey Gov. Jon Corzine, admitted using clients’ money as its financial troubles mounted, a federal official says.

Where is Democratic former Gov.????

13 posted on 11/02/2011 4:59:24 AM PDT by scooby321
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To: Libloather

Perp walk coming.


14 posted on 11/02/2011 5:01:40 AM PDT by Mikey_1962 (Obama: The Affirmative Action President.)
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To: FReepers
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15 posted on 11/02/2011 5:02:14 AM PDT by onyx (PLEASE SUPPORT FREE REPUBLIC BY DONATING NOW! Sarah's New Ping List - tell me if you want on it.)
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To: scooby321

Probably holed up with his lawyers.


16 posted on 11/02/2011 5:03:14 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: mewzilla
An interesting who's who......

MF's Available Talent Pool

17 posted on 11/02/2011 5:28:38 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: Libloather

OWSers should occupy Corzine’s house. Real-time corruption.


18 posted on 11/02/2011 5:55:44 AM PDT by PGalt
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To: mewzilla

“He told Deloitte in an email that if his clients lost money he expected their accounts to be reimbursed to their balance as of the US close on Monday.”

Where are they getting the money to reimburse their clients?
I understand that Corzine walked away with 12 mill.


19 posted on 11/02/2011 6:04:22 AM PDT by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
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To: PGalt
Speaking of corruption, check out CNN....

MF Global collapse shows Wall Street needs tougher rules

But absolutely no curiosity about what the admin knew and when it knew it. Or if MFG has received a clandestine bailout. Go figger.

20 posted on 11/02/2011 6:05:12 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: steveab

The suddenly reappearing money is why I’m wondering about a clandestine bailout. But I’m not expecting the ruling class to show any curiosity on the matter.


21 posted on 11/02/2011 6:06:49 AM PDT by mewzilla (Forget a third party. We need a second one.)
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To: Libloather
I guess his days as a CNBC guest are over.
22 posted on 11/02/2011 6:10:25 AM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: mewzilla
But absolutely no curiosity about what the admin knew and when it knew it. Or if MFG has received a clandestine bailout. Go figger.

Amazing, isn't it mewzilla? Real, live corruption right in their lap and they want to generalize it to Wall Street and more regulation. It's not Corzine's or MF's fault...it's wall street.

Examine THIS crook and all of his connections/tactics YOU morons/propagandists!

Thanks for all of your links mewzilla.

23 posted on 11/02/2011 11:11:41 AM PDT by PGalt
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