Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Corzine, O'Brien Charged in MF Global Collapse
Wall Street Journal ^ | June 28, 2013 | SCOTT PATTERSON , AARON LUCCHETTI and JAMILA TRINDLE

Posted on 06/28/2013 9:04:12 AM PDT by lbryce

Federal regulators on Thursday filed civil charges against former MF Global Holdings Ltd. Chief Executive Jon S. Corzine and a top lieutenant for overseeing the misuse of almost $1 billion in customer funds, saying Mr. Corzine "bears responsibility" for the New York commodities brokerage's 2011 demise.

The Commodity Futures Trading Commission's complaint cited conversations not previously disclosed purportedly showing Mr. Corzine played a more active role in the firm's activities than he had suggested in the past.

The lawsuit, filed in U.S. District Court in Manhattan, comes as a new blow for Mr. Corzine, whose reputation—built on a career as a top executive at Goldman Sachs Group Inc., New Jersey governor and U.S. senator—has been tarnished in the past two years. Mr. Corzine, 66 years old, has been grilled by Congress in several high-profile hearings and is the focus of several civil lawsuits related to his oversight of the company.

The agency also charged a former executive at the firm, Edith O'Brien, with misusing customer funds, saying she aided and abetted the violations. The agency is seeking monetary penalties from Mr. Corzine and Ms. O'Brien and to ban the two from ever again trading commodities on Wall Street.

The CFTC's 47-page complaint depicts Mr. Corzine as instrumental in making decisions that put customer accounts at risk by allegedly moving money in violation of strict rules prohibiting such transfers.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Crime/Corruption; Extended News; News/Current Events
KEYWORDS: corzine; corzinecivilcharges; mfglobal; mfglobalcivilcharges
Mr. Corzine, Bernie Madoff. Bernie Madoff, Mr. Corzine.

Haven't heard from Mr. Corzine for quite some time, I was beginning to think he was all forgotten about, had some sort of special immunity being a friend of Barry's.

1 posted on 06/28/2013 9:04:12 AM PDT by lbryce
[ Post Reply | Private Reply | View Replies]

To: lbryce

‘Bout time!
Maybe he’ll “Marc Rich” it and flee to Switzerland...then be pardoned by Obozo and hailed as a libtard hero....


2 posted on 06/28/2013 9:07:58 AM PDT by matginzac
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

Bears responsibility? Bears? Bares? I can’t bear it or I can’t bare it? Bear arms or bare arms. I get so confused.


3 posted on 06/28/2013 9:08:26 AM PDT by corkoman
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

Oh...I get it. If any Little Person sticks up a liquor store and gets $200, he’s a criminal, is charge with a CRIME, and goes to jail. If you are a Wall St. crook, makes off with over a billion dollars of Other People’s Money, you are charged with a civil case, and pay a fine with the ill-gotten-gains in your fat bank account, and your high-dollar lawyer keeps you out of jail.

That statue of Lady Justice should take off her blindfold and smell the coffee. Justice is dead in this country when Paula Deen is more reviled for saying the n-word thirty years ago than John Corzine is for stealing a billion dollars from his friends.


4 posted on 06/28/2013 9:12:09 AM PDT by txrefugee
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

Civil, not criminal. Ho hum. Small fine (relatively), pro’ly run for office again.


5 posted on 06/28/2013 9:12:29 AM PDT by NonValueAdded (Unindicted Co-conspirators: The Mainstream Media)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NonValueAdded

Yeah. I posted an article yesterday about Jon Corzine’s civil suit in his responsibility for the fall of MF Global saying that being it was only a civil suit, the absence of any criminal charges against Mr. Corzine seemed to indicate he was getting away with the severe criminal charges he committed. This article doesn’t make clear that it is only a civil suit until later in the story.


6 posted on 06/28/2013 9:27:37 AM PDT by lbryce (BHO:"Now, I am become Death, the destroyer of worlds by way Oppenheimer at Trinity NM)
[ Post Reply | Private Reply | To 5 | View Replies]

To: lbryce

Birds of a feather flock together!

7 posted on 06/28/2013 9:34:16 AM PDT by GeorgeWashingtonsGhost
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce
Federal regulators on Thursday filed civil charges against former MF Global Holdings Ltd. Chief Executive Jon S. Corzine

Why not CRIMINAL charges? This POS Obama administration proves once again they are the most corrupt administration to ever occupy Washington DC.

8 posted on 06/28/2013 10:16:41 AM PDT by Go Gordon (Barack McGreevey Obama)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeorgeWashingtonsGhost


9 posted on 06/28/2013 10:23:40 AM PDT by TurboZamboni (Marx smelled bad & lived with his parents most his life.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: corkoman
Used properly in this case. Not often seen these days with the 8th grade level writing of our newsprint media.

Or, could Corzine’s criminal activity be the fault of bare bears?

10 posted on 06/28/2013 10:28:22 AM PDT by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
[ Post Reply | Private Reply | To 3 | View Replies]

To: lbryce

BTK killer <----------------> criminal former Dem senator

11 posted on 06/28/2013 10:28:30 AM PDT by TurboZamboni (Marx smelled bad & lived with his parents most his life.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

Go to prison, Corzine.


12 posted on 06/28/2013 10:33:06 AM PDT by ozzymandus
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

yea and?....................... jail time? yeah right! connected rats and blacks get a “stay out of jail free” card


13 posted on 06/28/2013 12:05:17 PM PDT by ronnie raygun (Yesterdays conspiracies are todays truths)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

Notice its a civil charge and not a criminal one.


14 posted on 06/29/2013 6:59:12 AM PDT by ColdSteelTalon (Light is fading to shadow, and casting its shroud over all we have known...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lbryce

So no crime was committed?


15 posted on 06/29/2013 8:09:05 PM PDT by 1010RD (First, Do No Harm)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson