Estimated reading time: 0 minutes, 34 seconds

Former New Jersey governor and Goldman Sachs co-chairman Jon Corzine agreed to pay a $5 million civil fine in a settlement with U.S. regulators over the 2011 collapse of MF Global Holdings Ltd. So reports Reuters.

The deal represents the closing of litigation against Corzine’s commodity brokerage, which saw close to $1.6 billion of customer money go missing. Corzine is barred from working for a futures commission merchant or registering with the CFTC and he cannot ask insurers to cover the costs.

Corzine and other former MF Global executives reached a related $132 million settlement last year and, prior to that, executives reached a $64.5 million settlement in additional, separate litigation.

Read the full story from Reuters.

Read 1296 times
Rate this item
(0 votes)
Tagged under

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline