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Tenacious
User Rank
Platinum
Re: Corzine: closer to jail?
Tenacious   3/26/2012 10:57:40 AM
NO RATINGS
I'm just bewildered why it is taking so long. If I'd have taken three loaves of Wonder Bread from 7-11, I'd have already been in jail.

Noreen Seebacher
User Rank
Blogger
Re: Corzine: closer to jail?
Noreen Seebacher   3/26/2012 10:50:56 AM
NO RATINGS
Fingers crossed, @Scott.

Scott Raynovich
User Rank
Blogger
Re: Corzine: closer to jail?
Scott Raynovich   3/26/2012 10:44:49 AM
NO RATINGS
It seems like they are closing in. Amazing.

cat tail
User Rank
Platinum
Corzine: closer to jail?
cat tail   3/26/2012 10:39:19 AM
NO RATINGS
Jon S. Corzine, MF Global Holding Ltd.'s former chief executive officer, may face potential legal liability if investigators show he knew customer money might be used when he ordered $200 million transferred to a U.K. account as his brokerage neared collapse, Bloomberg News' Linda Sandler and Phil Mattingly report that former prosecutors said.

The ex-Goldman Sachs Group Inc. co-chairman gave "direct instructions" to move money from a U.S. account to meet an overdraft with JPMorgan Chase & Co. (JPM) just days before MF Global's bankruptcy, according to a memo by congressional investigators. Such accounts may have contained assets belonging to both customers and MF Global.

"It's not whether he specified," John Moscow, a former chief prosecutor in the office of Manhattan District Attorney Robert Morgenthau, said yesterday in an interview. "The economics of the situation were he was out of money. The bottom line is, he was taking a risk with somebody else's money."

In a casino, said Moscow, now with Baker Hostetler LLP in New York, "if I put your money on the table, I've committed larceny as soon as I expose it to risk."

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