WASHINGTON - (AP) - Jon Corzine is stepping down from running thesecurities firm that collapsed after his disastrous bets onEuropean debt.

The firm, MF Global, said Friday that Corzine has resigned aschairman and CEO. It says he will decline a severance package worth$12.1 million, including cash and benefits.

MF Global filed for bankruptcy protection on Monday after itsbets on European debt spooked investors and trading partners.

The company is under investigation by regulators and the FBIbecause hundreds of millions disappeared from customer accounts asit slid toward bankruptcy.

Corzine ran Goldman Sachs and was governor of New Jersey beforejoining MF Global.

MF Global says lead director Edward Goldberg and president andChief Operating Officer Bradley Abelow will continue in theircurrent positions.

Official: MF Global admitted using client money