Last year, former NJ governor and U.S. Senator Jon Corzine insisted he didn't tell his employees at MF Global to misuse customer funds. But now it seems emails show that he ordered that $200 million in a customer fund account be transferred to JP Morgan Chase. more ›

Good one, Jon Corzine: The Wall Street Journal reports, "Nearly three months after MF Global Holdings Ltd. collapsed, officials hunting for an estimated $1.2 billion in missing customer money increasingly believe that much of it might never be recovered, according to people familiar with the investigation." In fact, "The findings so far suggest that a 'significant amount' of the money could have 'vaporized' as a result of chaotic trading at MF Global during the week before the company's Oct. 31 bankruptcy filing, said a person close to the investigation." more ›

MF Global, the investment firm whose stunning collapse under the leadership of former NJ governor Jon Corzine is being investigated by the feds, illegally diverted about $1 billion of client funds, which are still missing. Now it looks like the company transferred $200 million of client money just three days before filing for bankruptcy! more ›

Former NJ governor Jon Corzine spoke to Congress today, to clarify the remarks he made last week about the collapse of brokerage MF Global. The firm, which he headed until it filed for bankruptcy, happens to be missing $1.2 billion in client money, and senators wanted to know who authorized the transfer. And, for what it's worth, Corzine said it wasn't him! more ›

If you want to be further outraged by the antics of former NJ governor Jon Corzine, whose leadership of brokerage MF Global essentially resulted in its collapse (and there's still a billion dollars in client funds missing!), read this NY Times feature, titled, "A Romance With Risk That Brought On a Panic." But romance is too pretty a word: "He pushed through a $6.3 billion bet on European debt — a wager big enough to wipe out the firm five times over if it went bad — despite concerns from other executives and board members. And it is now clear that he personally lobbied regulators and auditors about the strategy." more ›

Former NJ governor Jon Corzine is testifying in front of Congress today to explain what he knew of the collapse of MF Global. And basically he'll be saying he had no idea! According to prepared testimony, he says he was "stunned when I was told on Sunday, October 30, 2011, that MF Global could not account for many hundreds of millions of dollars of client money. I remain deeply concerned about the impact that the unreconciled and frozen funds have had on MF Global’s customers and others." more ›

It was earlier reported that MF Global, the brokerage firm formerly run by John Corzine, was entering bankruptcy with a shortfall of $593 million, or 11 percent of customer funds. Now it seems the shortfall is a tad higher—somewhere in the neighborhood of $1.2 billion, double previous estimates. A billion here, a billion there, and pretty soon you're talking real money! more ›

Yesterday, troubled brokerage MF Global fired its 1,066 employees in the broker-dealer operations as the bankrupt firm tries to find $600 million in investor funds that have essentially disappeared. And apparently some employees found out they were canned from the media. more ›

With his brokerage firm's troubles plastered on the front pages of the NY Times and Wall Street Journal, former NJ Governor Jon Corzine resigned from MF Global today. The company issued a statement saying that Corzine, who once headed Goldman Sachs, would not seek his $12 million severance. Which makes sense, since the firm filed for bankruptcy earlier this week and couldn't find about $700 million in funds. But was Corzine's decision hasty? Because now there are reports that the money has been found! more ›

The hits keep coming for the troubled brokerage MF Global: The FBI is joining the investigation on how an estimated $700-900 million of client money went missing. The company, which filed for bankruptcy and is being delisted by the New York Stock Exchange, is headed by former Goldman Sachs chair and former NJ Governor Jon Corzine, who had hoped to turn it into a "mini-Goldman." more ›

When Jon Corzine lost his re-election bid to remain NJ's governor to Chris Christie, the former Goldman Sachs chairman decided to head an upstart brokerage, MF Global. After a shaky week last week, the company filed for bankruptcy yesterday as MF Global couldn't find $700 million. Dealbook explains, "The discovery that money could not be located might simply reflect sloppy internal controls at MF Global. At first, as much as $950 million was believed to be missing, but as the firm sorted through its bankruptcy, that figure fell to less than $700 million by late Monday, the people briefed on the matter said. Additional funds are expected to trickle in over the coming days." And now MF Global admits it mixed client and company funds (a big no-no) and diverted client funds as well. more ›