Skip to comments.(RAT) Corzine's firm admits to using clients' money, fed says (FBI investigates missing $600 mil)
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 companys 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 wasnt authorized to discuss an investigation by federal regulators.
The investigation of MF Global Holdings Ltd. is preliminary. A formal investigation by the companys main regulator, the Commodity Futures Trading Commission, requires a vote by its five commissioners.
It isnt clear whether the violations could lead to criminal charges.
(Excerpt) Read more at nhregister.com ...
And, where were the audit guys?
What’s the difference between Corzine and Madoff?
Other than one is a Dem Politician who will never see prison time.
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.
Dear God. What a disgrace. And he was once elected as governor of my state. He was a disgraceful governor as well.
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.
Wonder if MFG got a bailout after all....?
And on an MFG related note...
But if there's no money missing now, I'm really wondering about a bailout.
Was there a bailout after all? If so, by whom and with whose money....?
Getting advice from the guys who investigated Gary Winnick, Terry McCauliffe and Global Crossing
Call in Michael Milken as a ocnsultant
Would you pay to have lunch with either of these men?
And what I'd still like to know: What did the admin, regulators, and ratings agencies know and when did they know it?
Where is Democratic former Gov.????
Perp walk coming.
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Probably holed up with his lawyers.
OWSers should occupy Corzine’s house. Real-time corruption.
“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.
But absolutely no curiosity about what the admin knew and when it knew it. Or if MFG has received a clandestine bailout. Go figger.