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Jon Corzine to Pay $5 Million for MF Global Failure

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Jon Corzine Reaches $5 Million Settlement with CFTC over MF Global Collapse

Jon Corzine Reaches $5 Million Settlement with CFTC over MF Global Collapse*/

– Photo: Finance MagnatesFormer New Jersey governor and CEO of MF Global Inc Jon Corzine has agreed on a deal with the U.S. Commodity Futures Trading Commission (CFTC) to pay $5 million to end the regulator’s lawsuit stemming from the 2011 collapse of commodities brokerage MF Global Holdings, according to a CFTC statement.To unlock the Asian market, register now to the iFX EXPO in Hong KongIn addition to Corzine’s penalty, MF Global Assistant Treasurer Edith O’Brien will also pay $500,000 to settle charges over her role in mishandling the affairs of MF Global, which was liquidated in bankruptcy.The CFTC accused Corzine of failing to implement necessary risk controls and monitor how customer funds were used, and O’Brien of aiding and abetting the misuse of those funds that totaled nearly one billion dollars.
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Jon Corzine Gets $5 Million Fine and Lifetime Ban for Tanking MF Global

Jon Corzine Gets $5 Million Fine and Lifetime Ban for Tanking MF Global*/

– Five years after he oversaw the collapse of commodities brokerage MF Global Holdings Ltd., CEO Jon Corzine is finally paying the piper.The U.S. Commodity Futures Trading Commission (CFTC) sued Corzine for financial indiscretions at MF Global that saw the firm transfer some $700 million of customer money to its own accounts (they also loaned $175 million in customer funds to their U.K. subsidiary).The CFTC agreed to accept $5 million.
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Jon Corzine to Pay $5 Million for MF Global Failure

Jon Corzine to Pay $5 Million for MF Global Failure*/

– Former Governor Jon Corzine received a $5 million fine for losses customers sustained during his time as head of MF Global Holdings, Ltd.The lawsuit ends a multi-year saga for all involved.MF Global collapsed in 2011 after making a bad bet on European nations’ debt.
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Jon Corzine to Pay $5 Million for Role in Collapse of MF Global

Jon Corzine to Pay $5 Million for Role in Collapse of MF Global*/

– Former New Jersey Gov.Jon Corzine agreed to pay $5 million to end a U.S. regulator’s lawsuit in the aftermath of the 2011 collapse of commodities brokerage MF Global Holdings Ltd.The settlement between Mr. Corzine, the firm’s former CEO, and the U.S. Commodity Futures Trading Commission, brings to an end the major pieces of litigation over the…
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Regulators Say Jon Corzine Will Pay $5 Million Penalty Over MF Global Collapse

Regulators Say Jon Corzine Will Pay $5 Million Penalty Over MF Global Collapse*/

– Former MF Global Chief Executive Jon Corzine will pay a $5 million penalty for his role in the company’s collapse, according to the U.S. Commodity Futures Trading Commission.MF Global collapsed in 2011, and hundreds of millions of dollars in customer money disappeared, as we reported.Under the terms of the settlement, Corzine, who has also served as the governor of New Jersey, is barred from commodity trading and cannot use insurance money to pay the penalty.
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