Former NJ Gov. Corzine steps down at MF Global

(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

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."