Corzine and PwC misinterpreted CFTC rule, agency says

11/3/2013 | NJ.com (Hackensack, N.J.)

The Commodity Futures Trading Commission told a Bankruptcy Court that Jon Corzine, formerly CEO of MF Global Holdings, should not be allowed to cover the damages caused to the firm's former clients with money that would go to its creditors. The CFTC is seeking "to ensure that Mr. Corzine doesn't avoid liability for lost customer funds," according to CFTC member Bart Chilton. "We are continuing our efforts to see that customer funds are repaid fully and as soon as possible."

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NJ.com (Hackensack, N.J.)

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