Corzine Sued by Trustee Freeh Over MF Global Failure
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Jon Corzine, the former head of MF Global Holdings Ltd., failed to oversee the futures broker, leading to the eighth-biggest bankruptcy in U.S. history, according to a lawsuit filed by Louis J. Freeh.
Corzine, a former governor and senator from New Jersey and once a co-chairman of Goldman Sachs Group Inc., was sued along with senior executives Bradley Abelow and Henri Steenkamp in U.S. bankruptcy court in Manhattan yesterday. Freeh, a trustee for the failed holding company of the brokerage, alleged that they failed to act in good faith and implemented strategies that caused the company to fail.