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Ex-MF Global official: Corzine OK'd money transfer-memo
March 23, 2012 / 9:15 PM / in 6 years

Ex-MF Global official: Corzine OK'd money transfer-memo

WASHINGTON, March 23 (Reuters) - Former MF Global executive Edith O‘Brien said in an October 2011 email that CEO Jon Corzine gave her “direct instructions” to transfer $200 million of customer funds to an overseas account, according to a congressional memo released on Friday.

The memo was released in advance of a House Financial Services subcommittee hearing scheduled next week on the collapse of brokerage MF Global and the continued search for missing customer funds. The committee this week subpoenaed O‘Brien to appear before the panel.

The $200 million transfer in customer funds from a JPMorgan account was made to cover a $175 million overdraft in one of MF Global’s accounts in London, the memo said.

Steven Goldberg, a spokesman for Jon Corzine, declined immediate comment.

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