Securities and Investments
Jon Corzine
MF Global
Action Date: November 2, 2011
Location: New York, NY
On October 31, 2011, brokerage firm MF Global filed for Chapter 11 bankruptcy protection. MF Global was headed by former New Jersey governor and former Goldman Sachs CEO Jon Corzine. MF Global's financial problems have been attributed to $6.3 billion in bad investments in European government debt. A possible sale had been reported to CME Group, the company that operates the nation's largest commodity exchanges. CNN reported that the sale was thwarted when $600 million in customers' money at MF Global was possibly missing and possibly had been co-mingled with the company's assets in violation of the rules of the Commodity Futures Trading Commission. Both the FBI and the SEC were reportedly conducting investigations.
Jon Corzine
MF Global
Action Date: November 2, 2011
Location: New York, NY
On October 31, 2011, brokerage firm MF Global filed for Chapter 11 bankruptcy protection. MF Global was headed by former New Jersey governor and former Goldman Sachs CEO Jon Corzine. MF Global's financial problems have been attributed to $6.3 billion in bad investments in European government debt. A possible sale had been reported to CME Group, the company that operates the nation's largest commodity exchanges. CNN reported that the sale was thwarted when $600 million in customers' money at MF Global was possibly missing and possibly had been co-mingled with the company's assets in violation of the rules of the Commodity Futures Trading Commission. Both the FBI and the SEC were reportedly conducting investigations.
Source:Fraud Digest
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