Jon Corzine said he “never intended to break any rules” while he was chief of MF Global and that he doesn’t know what happened to the hundreds of millions of dollars in missing customer money.
Corzine, in his first public appearance since the firm filed for bankruptcy on October 31, gave lawmakers a lengthy account of the final days of MF Global and apologized to those harmed by the firm’s collapse.
“I never intended to break any rules, whether it dealt with the segregation rules or any of the other rules that are applicable,” said Corzine, wearing a somber dark suit and armed with an accordion file folder of documents and a highlighter pen.
“I am not in a position, given the number of transactions, to know anything specifically about the movement of any specific funds and I will repeat, I certainly would never intend to direct or have segregated funds moved.”
Investigators are determining whether MF Global raided customers’ funds for its own needs — a major violation of industry rules.
