Home

Jon Corzine Hoping Silence is Golden
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Jon Corzine, the former Goldman Sachs executive and former governor of New Jersey, has seen his career turn in circles. Corzine left government to return to the financial world but now he is scheduled to return to Washington, but this time will not be rosy for the former MF Global leader. The government will question Corzine on the collapse of the company; a brokerage that went broke and then relieved its entire staff. For some experts, this might be one of the scariest bankruptcies since the collapse of the Lehman Brothers.

A court-appointed trustee and regulators are searching for missing money from MF Global, believed to be in the range of $600 million and $1.2 billion in missing funds. The reason for the attention to the case is the fact that farmers who utilized the firm to hedge against losses are pressing politicians for action. MF Global is considered a small fish in the sea but its collapse could have catastrophic effects on the economy.

  
What
Where


The collapse of MF Global has been in the news for quite some time now, but we have not heard from its former head, Corzine. Corzine has the option to refuse testimony, but he would then face a subpoena from the governmental panel. The panel said that Corzine will focus on “the decisions and events leading to the collapse of MF Global, the effectiveness of regulators in overseeing MF Global’s activities and the impact MF Global’s bankruptcy will have on its customers.â€

Also being called to testify is Bradley Abelow, the president and chief operating officer for MF Global. Abelow worked previously at Goldman Sachs and worked as the treasurer and chief of staff to Corzine during his tenure as governor of New Jersey. The relationship between Abelow and Corzine seems to be crumbling, as the two will have a chance to tell their sides of the story once in front of a panel.

“It’s too early to say exactly where this is going but we will have a clearer idea after this hearing,” said Robert Mintz. Mintz is a former federal prosecutor who now works at New Jersey law firm McCarter & English.”There may have been criminal wrongdoing, there may not. But as long as these sizeable amounts of money are missing, that’s a question that is going to keep getting asked.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




A person of financial power appearing before a government panel is nothing new in the United States, where in 2002 the chairman of Enron pled the fifth. Kenneth Lay refused to answer questions for nearly two hours as senators kept firing them at him.

“Mr Lay, I’ve concluded that you’re perhaps the most accomplished confidence man since Charles Ponzi,” said senator Peter Fitzgerald. “I’d say you’re a carnival barker, except that wouldn’t be fair to carnival barkers.”





 

RELEVANT JOBS

Associate Attorney

USA-PA-Exton

ASSOCIATE ATTORNEY McKenna Snyder LLC, a law firm in Exton, PA has an immediate opening for an ex...

Apply now

Attorney

USA-MI-Sturgis

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Attorney

USA-MI-Coldwater

Qualifications: HaasCaywood is seeking associate attorneys for our Coldwater and Sturgis, Michiga...

Apply now

Deputy General Counsel / Senior Deputy General Counsel

USA-CA-Sacramento

Cal Cities Culture and Mission Cal Cities is dedicated to creating a collaborative and inclusive ...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top