Big Surprise - Corzine approved $200M transfer, MF Global email shows

[Golftee Party]

As MF Global was in the final throes of a fatal cash crisis, CEO Jon Corzine gave "direct instructions" to transfer $200 million of customer funds to cover an overdraft, according to a congressional memo released Friday.
The memo cited an October 2011 memo from assistant treasurer Edith O'Brien, who is scheduled to testify next week at the latest in a series of congressional hearings into the collapse of the firm.
The bankruptcy trustee overseeing the liquidation of the company’s brokerage subsidiary has estimated at $1.6 billion in customer funds is missing.

Corzine, a former senator and governor of New Jersey, has testified before Congress that he had no specific knowledge of how customer funds may have been misused.... more

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