Reuters: Regulatory News: Congressional probe finds Corzine is to blame for MF Global fall

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Congressional probe finds Corzine is to blame for MF Global fall Nov 14th 2012, 18:44 WASHINGTON | Wed Nov 14, 2012 1:44pm EST WASHINGTON Nov 14 (Reuters) - MF Global's collapse and the loss of an estimated $1.6 billion in customer money was triggered by former CEO Jon Corzine's poor management decisions and lax protections for customer funds, a congressional investigation has determined. The findings of the House Financial Services Subcommittee on Oversight will be spelled out in a report to be released on Thursday. In a preview of the report, the panel's chairman, Rep. Randy Neugebauer, said on Wednesday the evidence unearthed by the committee puts the blame squarely on Corzine, who has denied any wrongdoing. "The responsibility for failing to maintain the systems and controls necessary to protect customer funds rests with Corzine," the report says. "This failure represents a dereliction of his duty as MF Global's chairman and CEO."

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions