Tuesday, April 23, 2013

Corzine Sued Over MF Global Flop

Who says there’s no such thing as justice?  Jon Corzine, the former head of bankrupt broker MF Global Holdings Ltd., was sued by the holding company’s trustee, Louis J. Freeh, for failing in his duty to oversee the company and causing the eighth-biggest bankruptcy in U.S. history.

In the suit, filed in U.S. bankruptcy court in Manhattan, Freeh alleged that Corzine, the company’s chief executive officer and a former governor and senator from New Jersey, along with senior executives Bradley Abelow and Henri Steenkamp, failed to act in good faith and implemented strategies that caused the company to fail….

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