During a third Congressional hearing on the topic, House lawmakers peppered Jon Corzine with questions about missing client funds after the collapse of the MF Global. Over a billion dollars of customer money was missing after the company’s bankruptcy, the eighth largest in U.S. history.
It’s Corzine’s first appearance since CME Group Executive Chairman Terrence Duffy told the Senate Ag Committee that Corzine may have known about a $175 million transfer from customer accounts before the firm’s final meltdown. According to Duffy, an employee of MF Global indicated during a phone conversation with a CME auditor that Corzine was aware of the dealings.
Leaders of the House Financial Services Oversight and Investigations Subcommittee asked Corzine about the situation.
Duffy told Senators on Tuesday that he referred the matter to the Justice Department and Commodity Futures Trading Commission – who are investigating MF Global’s failure. Corzine, a former New Jersey senator and governor, resigned as CEO of MF Global last month.