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[quote="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 [url]http://bottomline.msnbc.msn.com/_news/2012/03/23/10833344-corzine-approved-money-transfer-mf-global-email-shows[/url][/quote]
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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Golftee Party</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Fri, Mar 23 2012, 10:05 pm EDT<span class="gen"> </span> Post subject: Big Surprise - Corzine approved $200M transfer, MF Global email shows</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">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. <br />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. <br />The bankruptcy trustee overseeing the liquidation of the company’s brokerage subsidiary has estimated at $1.6 billion in customer funds is missing. <br /> <br />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 <br /> <br /><a href="http://bottomline.msnbc.msn.com/_news/2012/03/23/10833344-corzine-approved-money-transfer-mf-global-email-shows" target="_blank" class="postlink">http://bottomline.msnbc.msn.com/_news/2012/03/23/10833344-corzine-approved-money-transfer-mf-global-email-shows</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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