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Exclusive: Senior MF Global Executive Said Corzine Knew About Misuse of Funds (Jail-time Jonny?)
Fox Business ^ | 9/11/12 | Charlie Gasparino

Posted on 09/12/2012 2:30:59 AM PDT by Libloather

Exclusive: Senior MF Global Executive Said Corzine Knew About Misuse of Funds
By Charlie Gasparino
Published September 11, 2012
FOXBusiness

In the days following MF Global’s stunning implosion last year, a senior executive at the firm made a startling concession to investigators looking into both the company’s demise and the loss of more than $1 billion in customer money, according to people with direct knowledge of the matter.

MF Global’s chief financial officer for North America, Christine Serwinski, told investigators that her boss, MF Global’s chief executive, Jon Corzine, was well aware of the use and possible misuse of the customer funds during the firm’s final days, and as a result, Corzine may end up in “jail,” these people add.

**SNIP**

People with direct knowledge of what Serwinski said to investigators at the Commodity Futures Trading Commission and the CME Group say her statements appear to contradict those made by Corzine when he testified before Congress on the matter. Corzine has told Congressional panels investigating the matter that he never gave “instructions to misuse customer money.”

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


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: corzine; funds; global; mf; mfglobal
Serwinski: “Corzine May Have To Go To Jail”

That's a shame.

1 posted on 09/12/2012 2:31:12 AM PDT by Libloather
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To: Libloather
...that he never gave “instructions to misuse customer money.”

That's a 'I did not have sex with that woman, not one time' (it was several times) statement.
Left a little technical wiggle room.

2 posted on 09/12/2012 2:42:55 AM PDT by Vinnie (A)
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To: Libloather

Jon will get a presidential pardon, Odungo’s buddy knows too much.....


3 posted on 09/12/2012 2:56:05 AM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Libloather

If he doesn’t do jail.....I suspect he’ll wind up wishing he had!!!


4 posted on 09/12/2012 3:08:11 AM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: Libloather

A judge has already ruled that what Corzine did was Not Illegal


5 posted on 09/12/2012 3:11:55 AM PDT by ballplayer
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To: ballplayer
He was the first to hold a Obama Fundraiser
6 posted on 09/12/2012 4:00:18 AM PDT by scooby321 (AMS)
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To: scooby321
A judge has already ruled that what Corzine did was Not Illegal

Troll

A Judge ruled on a Person not even Charged

7 posted on 09/12/2012 4:04:03 AM PDT by scooby321 (AMS)
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To: Libloather

He won’t even be charged, he knows where the bodies are buried.


8 posted on 09/12/2012 4:49:31 AM PDT by stockpirate (Slaves to the collective! SCOTUS is just as corrupt as congress. IMPEACH ROBERTS!)
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To: Libloather

He won’t even be charged, he knows where the bodies are buried.


9 posted on 09/12/2012 4:49:31 AM PDT by stockpirate (Slaves to the collective! SCOTUS is just as corrupt as congress. IMPEACH ROBERTS!)
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To: Libloather

He won’t even be charged, he knows where the bodies are buried.


10 posted on 09/12/2012 4:49:31 AM PDT by stockpirate (Slaves to the collective! SCOTUS is just as corrupt as congress. IMPEACH ROBERTS!)
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To: Libloather

He won’t even be charged, he knows where the bodies are buried.


11 posted on 09/12/2012 4:49:31 AM PDT by stockpirate (Slaves to the collective! SCOTUS is just as corrupt as congress. IMPEACH ROBERTS!)
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To: ballplayer

What Judge has ruled that what Corzine testified to in front of congress was not perjury?


12 posted on 09/12/2012 5:22:18 AM PDT by bkepley
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To: stockpirate

I guess he won’t even be charged.


13 posted on 09/12/2012 5:23:13 AM PDT by all the best (`~!)
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To: Libloather

When pigs learn to fly...


14 posted on 09/12/2012 5:30:48 AM PDT by Eric in the Ozarks (I didn't post this. Someone else did.)
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To: stockpirate

Ever consider decaf?


15 posted on 09/12/2012 5:34:55 AM PDT by varon (I remember when America was American.)
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To: Libloather

“Well I guess it is my as or his” she said. “Of course he knew. Of course he lied”


16 posted on 09/12/2012 5:35:13 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: varon

I only clicked once, and I haven’t even had my coffee yet, strange.......


17 posted on 09/12/2012 5:55:58 AM PDT by stockpirate (Slaves to the collective! SCOTUS is just as corrupt as congress. IMPEACH ROBERTS!)
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To: stockpirate
Investment firms may, under some circumstances, per law changes in the '90's, "hypothecate" customer's funds and use them as collateral for the firms' speculative bets, including highly leveraged derivative bets. Even in the event of bankruptcy by such firms, their customers will receive lower priority for recovery of their account money than will the counter party to the derivative bet.....

The laws on this were changed and corrupted to protect the guilty. Corzine will walk as a corrupt man protected by corrupt laws passed by corrupt and stupid politicians. The customers will, of course, just get screwed.

18 posted on 09/12/2012 6:21:26 AM PDT by JustTheTruth
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To: Libloather

Corzine will not go to jail under this administration. Obama will throw anyone under the bus if it gets hot enough, but he has a high degree of initial loyalty to his contributors and bundlers. I don’t know what will happen under Romney. He might not interfere directly, but I would hope he’d make wholesale changes at DOJ, and that might influence the course of affairs.


19 posted on 09/12/2012 6:47:21 AM PDT by Pearls Before Swine
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