Skip to comments.MF Global Was Sloppy, But Not Criminal (Gov't Alibi)
Posted on 02/27/2012 9:07:09 AM PST by LyinLibs
Federal law enforcement officials investigating the implosion of MF Global are concluding that sloppy bookkeeping rather than criminal activity is to blame for the firms demise that resulted in more than a $1 billion of customer funds that remains missing, FOX Business Network has learned.
Though officials havent totally ruled out bringing a criminal case against MF Global executives, including former chief executive Jon Corzine, the odds are long that a criminal case will be filed, according to people with direct knowledge of the matter.
The evidence that law enforcement officials have gathered so far shows that the firms sloppy bookkeeping rather than direct criminal intent to commit fraud is at the heart of both the bankruptcy and the missing customer funds, which could total as much as $1.6 billion, these people tell FOX Business.
(Excerpt) Read more at foxbusiness.com ...
I thought Sarbanes-Oxley was supposed to prevent this kind of thing.
Establishment Republicans will buy this lie.
” sloppy bookkeeping rather than criminal activity “
SOX says that they are the same thing.
You know at some point, you’d think that people would get mad about this stuff.
Instead the response seems to amount to “ho-hum”....
When a democrat is caught in a crime, they were just being "sloppy".
GEORGE (screaming at him): Where's that money, you stupid, silly old fool? Where's the money? Do you realize what this means? It means bankruptcy and scandal, and prison! That's what it means! One of us is going to jail! Well, it's not going to be me!
UNCLE BILLY: George, we gave some of that money to the local Democrat Party. We'll never be indicted of anything. We can even blame that old Republican Potter for stealing it if we have to.
It is a joke suggest or believe otherwise. These guys misused the funds, pure and simple!
If it’s a bookeeping error, why can’t it be corrected and where is the money now?
When Rob Rubin was attempting to change the law so that Travelers could buy CitiBank the Clinton administration had made changes to the laws. One of those changes allowed for firm to use segregated customer funds “intra-day” so long as the money was returned to the rightful place at the close of business each day. However, if the money is “lost” intra-day how do you put it back.
Ex-Marine assassinates MF Global. Claims stupidity and ignorance. More at 11
Thus proving that $1.6 billion can buy a judge.