Tuesday, December 13, 2011

Jon Corzine lied about knowledge of customer funds according to CME Exec

Now the fun starts as everyone involved in MF Global start throwing each other under the bus.  In a Reuters story today, an Executive from the Chicago Mercantle Exchange (CME) initmated that Jon Corzine lied under oath, and that he indeed had knowledge of where the missing customer money went to.

An auditor with CME Group was told that former MF Global chief Jon Corzine knew about loans backed by customer segregated accounts that were made to a European affiliate of the firm, a CME executive said on Tuesday.
CME Executive Chairman Terrence Duffy said his company has provided this information to the Justice Department and the Commodity Futures Trading Commission.
Duffy, testifying to the Senate Agriculture Committee, said a CME auditor participated in a phone call during which an MF Global employee indicated that Corzine knew of the lending, which was likely made in the last couple of days prior to MF Global's Oct. 31 bankruptcy.
The loan was for roughly $175 million, Duffy said. – Reuters via Zerohedge

Now the question becomes... how long will it take Corzine to start his own bus throwing to save his pathetic bacon?


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