ML-Implode News - Renewed Hope that Jon Corzine, President Obama's Top Tier Campaign Bundler, Will Face Criminal Charges

Terrence Duffy, executive chairman of the CME Group, testified to Congress on December 13, 2011 that a draft report showing a more than $900 million shortfall in required segregation was withheld from regulators. MF Global employees later claimed this was due to an "accounting error," but auditors found no such so-called accounting error. Later, MF Global admitted the shortfall was real and that so-called segregated customer funds had been impermissibly transferred. Lawyers notified Duffy by phone and email that a senior MF Global employee indicated Corzine was aware of "loans" of money from segregated account to MF Global's European affiliate and that at all times the people doing the transfers were under the authority of MF Global management.

Relevant:

Renewed Hope that Jon Corzine, President Obama's Top Tier Campaign Bundler, Will Face Criminal Charges