Jon Corzine Pulls a $200 Million Rabbit Out of His Hat

Corzine, according to Joe Biden, was the go-to economic guy for ‘Team Obama’.

There’s still a lot of money missing. This is just a drop in the bucket from the Corzine/MF Global scandal.

About $200 million in customer money that vanished from MF Global is believed to have surfaced at JPMorgan Chase in Britain, according to people briefed on the matter. The discovery could be the most significant breakthrough in a monthlong hunt for the missing funds.

During MF Global’s last chaotic days, the brokerage firm overdrew an account at JPMorgan, according to another person who is close to the matter. Some investigators now believe the firm used customer funds to patch at least some of the hole, which would have been a significant breach of federal law.

MF Global transferred the roughly $200 million in the days before the firm filed for bankruptcy, said the people, who requested anonymity because the investigation was incomplete.
http://dealbook.nytimes.com/2011/11/21/mf-global-trustee-estimates-shortfall-could-be-more-than-1-2-billion/

Leave a Comment

Your email address will not be published.

Social Media Auto Publish Powered By : XYZScripts.com
Wordpress Social Share Plugin powered by Ultimatelysocial