No Criminal Charges for Jon Corzine

[PoliticAverse]

Jon Corzine will not be cuffed over MF Global’s improper handling of customers’ funds leading up to the commodity brokerage firm’s spectacular collapse in late 2011, The Post has learned.

Federal investigators have found no evidence that the disgraced Wall Street titan broke the law.

“After 18 months of investigation, the criminal probe into Jon Corzine is now being dropped,” a person with knowledge of the probe told The Post.

“There is no evidence of criminal wrongdoing,” this person said.

Read the rest at:
http://www.nypost.com/p/news/business/corzine_off_the_crook_t3VpDFmfEsx9Qd7VdtCLvM?utm_medium=rss&utm_content=Business

Story on the CFTC lawsuit:
http://www.cnbc.com/id/100803569

CTFT complaint:
Browser: http://www.scribd.com/fullscreen/150427434?access_key=key-7a2axlt7koc7j9nyzhl&allow_share=true
PDF: http://cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfmfglobalcomplaint062713.pdf

CFTC press release:
http://cftc.gov/PressRoom/PressReleases/pr6626-13

[LiberalAndProud]

1. Theft. Perfectly legal.

Some things are always wrong, even when no law has been broken. It seems we have no recourse except to pay the interest on the money we borrowed to bail out the bankers. What is wrong with this picture?

[proverbialwisdom]

3. Not perfectly legal.

http://blogs.marketwatch.com/thetell/2013/07/08/jon-corzine-will-not-face-criminal-charges-over-mf-global-report/

Jon Corzine will not face criminal charges over MF Global: report
July 8, 2013, 2:14 PM
<>

But the former CEO of Goldman Sachs is not out of the woods.

Corzine is facing civil charges by the Commodities Futures Trading Commission for illegally using customer funds in the last few days of MF Global to help keep the company afloat. The firm’s former assistant treasurer Edith O’Brien is also caught up in the scandal and charged by the CFTC for making the transfers.

Ultimately Corzine was charged by the regulator for failure to segregate and misuse of customer funds and failure to supervise diligently. O’Brien was charged with one count failure to segregate and misuse of customer funds.

To support the allegations, the CFTC used a recorded telephone conversations to support their charges that Corzine was fully aware of the transfers.

Both Corzine and O’Brien have denied any wrongdoing.

– Sital S. Patel

[dixiegrrrrl]

2. To no one's great surprise.

as I undetstand it, a lackey was the fall guy..or, in this case, I think it was a woman.
Essentially, she did what she was told to do, then was fingered as being responsible.

Take home message: if the boss tells you to do something illegal, HE will skate, you will not.

[proverbialwisdom]

4. MSM and DU coverage of this story, nonexistent to poor, unless I've missed it.

Last edited Tue Jul 9, 2013, 08:33 PM - Edit history (1)

http://topics.nytimes.com/top/reference/timestopics/people/c/jon_s_corzine/index.html

Google: jon corzine july 2013
(check out all the CT sites and little else)

[PoliticAverse]

7. The NY Post is apparently the only paper with this info...

hence the "a person with knowledge of the probe told The Post."

The problem is that in general when investigations like this end without
any finding of criminal activity there usually isn't a public announcement of
that fact.

I keep looking for other sources on the story and if I find any I'll post them.

Note that the CFTC civil-action I mentioned in the OP is continuing.

[kenny blankenship]

10. I hope they're wrong.

the optics of not prosecuting Corzine will be as bad as Duke Cunningham and Jack Abramoff.

On a side note: "Happy one month gettin out of Jail" greetings to the Dukester!

[proverbialwisdom]

5. Sinkin' like a rock again. nt

[cherokeeprogressive]

6. Someone once said: "It's a big club, and you ain't in it." I forget who it was... n/t

[kenny blankenship]

8. Evidently, it's potentially more embarrassing to prosecute him than it is to let him walk

and then have to listen to the Repukes scream bloody murder.

[Egalitarian Thug]

9. "Evidently, it's potentially more embarrassing to prosecute him" will be our epitaph. n/t