Corzine Says MF Global Staff Told Him Fund Transfer Was Legal
This article is for subscribers only.
Jon S. Corzine, former chairman and chief executive officer of MF Global Holdings Ltd., told lawmakers today that the firm’s back-office staff “explicitly” informed him that fund transfers made before the company filed for bankruptcy were legal.
Corzine, testifying today before U.S. lawmakers for the third time in a week, was responding to allegations made at a U.S. Senate hearing earlier this week when the executive chairman of Chicago-based CME Group Inc. told lawmakers Corzine had known of a $175 million loan using client money that was made before the Oct. 31 bankruptcy.