ENDNOTE: Corzine skips on a missing 1B$



Corzine Agrees to Futures Industry Ban in CFTC Settlement
Bob Van Voris
Jan 06, 2017 10:55 pm ET

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(Bloomberg) — Jon Corzine has agreed to a lifetime ban from the futures industry to settle a U.S. lawsuit that he failed to properly oversee MF Global Holdings Ltd. as the brokerage spiraled toward failure in 2011.
Corzine, an ex-governor and U.S. senator from New Jersey and the former co-chairman of Goldman Sachs Group Inc., also agreed to pay a $5 million penalty from his own pocket to the Commodity Futures Trading Commission, under a consent order approved by a federal judge in New York Thursday. The agency had been seeking the industry ban since at least October.

“I am pleased to have reached this settlement to resolve the CFTC’s claims,” Corzine, 70, said in a statement. “As the CEO of MF Global in 2011, I have accepted responsibility for its failure, and I deeply regret the impact it had on customers, employees, shareholders and others.”

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A missing 1B$! And he gets a slap on the wrist.


Where did the money go?

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