Corzine could be guilty of fraud. Bloomberg just broke the story.
Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. (JPM) accounts in London, according to an e-mail sent by a firm executive.
Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.
When the news first broke, I suspected as much. As the news dragged on, I assumed as much. Now we know. The treasurer of MF released a little. She has to have more. Drip, drip, drip. When will they confess? JP Morgan ($JPM), you better start talking. You are next. Where does Goldman($GS) fit in?
If true, Corzine also has committed perjury. He testified in front of Congress that he didn’t know. His fingerprints are all over it. Last month, attorney James Koutoulas and I did a presentation on the whole thing at the University Club in Chicago.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom