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HomeJon Corzine: At Best, A Negligent Nitwit
Posted by Larry Doyle on June 5th, 2012 8:18 AM |
Did Jon Corzine perpetrate a fraud at MF Global? Many believe there is sufficient evidence to pursue an indictment of Mr. Corzine and others for the demise of the firm.
The MF Global trustee’s report released yesterday falls short in providing the smoking gun with Corzine’s fingerprints. That said, Corzine should hardly rest easy as the Financial Times writes this morning, MF Global Trustee Eyes Suing Corzine:
The legal trustee overseeing MF Global’s bankruptcy has blamed Jon Corzine, the broker-dealer’s former chief executive, for ramping up risk while failing to overhaul money management systems.
James Giddens said on Monday that he would decide within 60 days whether to sue Mr Corzine, the former New Jersey governor and senator, and other former staff members at the company for “breach of fiduciary duty and negligence”. (more…)
