video transcript

MF Global's former CEO Jon Corzine was under fire at a U.S. House panel - questioned as to why he said he simply did not know where some customer money- estimated to be over a billion dollars by a court-appointed trustee - has gone. House Agriculture Chairman Frank Lucas: SOUNDBITE: FRANK LUCAS, CHAIRMAN, HOUSE AGRICULTURE COMMITTEE (R) OHIO (ENGLISH) SAYING: "Did you authorize a transfer of funds from these segregated accounts?" SOUNDBITE: JON CORZINE, FORMER MF GLOBAL CEO (ENGLISH) SAYING: "I never intended to break any rules whether it dealt with the segregation rules or any other rules that are applicable." SOUNDBITE: FRANK LUCAS, CHAIRMAN, HOUSE AGRICULTURE COMMITTEE (R) OHIO "Are you aware of any transfers, authorized or unauthorized of funds out of customer accounts?" SOUNDBITE: JON CORZINE, FORMER MF GLOBAL CEO (ENGLISH) SAYING: "I am not in a position given the number of transactions to know anything specifically about the movement of any specific funds." The remarks were his first since MF Global's October 31st bankruptcy, and his resignation days later. Investigators believe MF Global may have diverted the missing customer money for its own needs. Revelations of massive bets on European sovereign debt caused markets to lose confidence in the firm, causing a liquidity shortfall. Corzine was asked about the disclosure of some of those investments to U.S. regulators like the Financial Industry Regulatory Authority, or FINRA. SOUNDBITE: JON CORZINE, FORMER MF GLOBAL CEO (ENGLISH) SAYING: "It is quite possible that the beginning positions that we took in euro sovereigns were on the books of one of our other subsidiaries not in the FINRA regulated subsidiary." Corzine, a former U.S. Senator, New Jersey Governor, and head of Goldman Sachs, also issued an apology: SOUNDBITE: JON CORZINE, FORMER MF GLOBAL CEO (ENGLISH) SAYING: "I mean this with all sincerity. I apologize, both personally and on behalf of the company. To our customers, our employees and our investors, I truly know they are bearing the brunt of the impact of the firm's bankruptcy." So far neither MF Global nor any of its executives have been charged with any wrongdoing. Bobbi Rebell, Reuters.