2 chapters across the catalog
New evidence in the MF Global collapse suggests John Corzine directly instructed the transfer of $200 million in customer funds to cover an overdraft at JP Morgan in London. The hosts discuss the illegality of touching segregated customer accounts and criticize JP Morgan's offer to buy out claims at a 10% discount, effectively profiting from the theft.
Jon Corzine MF Global Testimony, Missing Customer Funds
Former MF Global CEO Jon Corzine prepares to testify regarding the disappearance of approximately $1.2 billion in customer funds. The missing money primarily belonged to farmers and ranchers using futures contracts for cattle and commodities. Speculation suggests Corzine may invoke the Fifth Amendment to avoid self-incrimination during the hearing.
