Corzine Sued, Shifting Bank Losses, Imaging3: Compliance
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The Commodity Futures Trading Commission sued former MF Global Holdings Ltd. Chief Executive Officer Jon Corzine for failing to properly oversee the company as it spiraled toward bankruptcy in 2011.
The regulator also sued MF Global’s former assistant treasurer Edith O’Brien and said it reached a settlement with a unit of the company, MF Global Inc., to pay all funds due to customers and impose a $100 million penalty. The settlement is subject to court approval.