Corzine, according to Joe Biden, was the go-to economic guy for ‘Team Obama’.
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.
- Two more MF Global stories – Will Jon Corzine ever be indicted? (americablog.com)
- MF Global Trustee to Return Up to $2.1 Billion to Customers (businessweek.com)