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Email suggests Corzine ordered transfer of $200M
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TOPIC: Email suggests Corzine ordered transfer of $200M
#16982
Email suggests Corzine ordered transfer of $200M 2 Years, 1 Month ago Karma: 120
Did Corzine say he didn't know where the money was ....?

www.foxnews.com/politics/2012/03/23/emai...as-mf-global-failed/

WASHINGTON – A former MF Global executive is contradicting testimony from Jon Corzine, saying the former senator ordered the transfer of $200 million last fall out of a customer account days before the firm collapsed, according to an email obtained by congressional investigators.

Edith O'Brien, the former assistant treasurer, says Corzine ordered the money shifted to one of the firm's bank accounts overseas on Oct. 28 to cover an overdraft, according to a memo that cited the e-mail.

The email noted that the transfer was made "per JC's direct instructions."

MF Global filed for bankruptcy protection on Oct. 31. The firm failed because of a disastrous bet on European debt. About $1.6 billion of customers' money hasn't been recovered.

A House Financial Services subcommittee released the memo Friday in advance of a hearing Wednesday. O'Brien has been subpoenaed to testify. The Associated Press could not reach her for comment.

In December, Corzine told the panel: "I did not instruct anyone to lend customer funds to MF Global or any of its affiliates." Corzine also told the subcommittee he didn't know about "the use of customer funds on any loan or transfer."

And Corzine told a Senate panel two days earlier: "I never gave any instruction to anyone at MF Global to misuse customer funds."

A representative for Corzine didn't immediately return a telephone call seeking comment.

Client money is required by law to be held separately from a brokerage firm's cash to protect investors in case a firm fails. If MF Global misused client money, it would violate a fundamental investor protection for people who trade options and futures.

Many lawmakers have heard from farmers, ranchers and small business owners in their states who are missing money that was deposited with the firm. Agricultural businesses use brokerage firms like MF Global to help reduce their risks in an industry vulnerable to swings in oil, corn and other commodity prices.

Corzine, a former New Jersey governor and U.S. senator from the state, led MF Global until early November. He testified before three congressional panels in December. He said he didn't become aware of the shortfall in customer money until hours before MF Global's bankruptcy filing.

No one has been charged in the MF Global case. In addition to Congress, federal regulators and a federal grand jury in Chicago are investigating.

Read more: www.foxnews.com/politics/2012/03/23/emai...ailed/#ixzz1pzibsLbq
debsyl
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#16984
Re: Email suggests Corzine ordered transfer of $200M 2 Years, 1 Month ago Karma: 255
Thanks for the post Debsyl.

While this "revelation" won't surprise anyone around here, it's important to expose the lies of these predators as often as possible.

Jeff Nielson
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#17050
Re: Email suggests Corzine ordered transfer of $200M 2 Years ago Karma: 26
Enjoy.

philipz
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#17055
Re: Email suggests Corzine ordered transfer of $200M 2 Years ago Karma: 17

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That was pretty good. Heard the news Friday and said to myself "There IS a DOG" (dyslexic agnostic). Still have to wonder if Corzine will weasel his way out of this, but good news (so far) nonetheless. And now being habitually jaded and cynical, had to wonder if this news was released to redirect our attention away from some other news?
Samak
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#17056
Re: Email suggests Corzine ordered transfer of $200M 2 Years ago Karma: 255
Great clip Philipz! (And I did enjoy it.)

It's always nice when we get a two-for-one: one of the Voices of Truth is able to enhance their OWN credibility (by pointing to how they had been entirely correct in a past prediction) while ALSO exposing one of these Compulsive Liars (and Stealers) for what they really are...


Jeff Nielson
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#17057
Re: Email suggests Corzine ordered transfer of $200M 2 Years ago Karma: 255
Samak wrote:

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That was pretty good. Heard the news Friday and said to myself "There IS a DOG" (dyslexic agnostic). Still have to wonder if Corzine will weasel his way out of this, but good news (so far) nonetheless. And now being habitually jaded and cynical, had to wonder if this news was released to redirect our attention away from some other news?


Samak, it's always difficult when you're the Big Boss to try to get away with the "Seargeant Schultz defense":

I know nothing...NOTHING!

It doesn't matter if you're Richard Nixon, Rupert Murdoch, or Jon Corzine. The Oligarchs KNOW this, and typically once the position of one of the high-and-mighty has become totally indefensible (as Corzine's is now) THEY are the first ones to throw their fellow Oligarch under the bus (and cannibalize the remains).

:)

Are you LISTENING, Rupert Murdoch...?

:P
Jeff Nielson
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Last Edit: 2012/03/26 13:38 By Jeff Nielson.
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