Legal experts: Corzine avoided missteps in testimony
(AP) - Jon Corzine has navigated three days oftestimony on MF Global's failure without saying much to satisfylawmakers or clients who lost millions when the firm collapsed. Legal experts say Corzine
News 12 Staff
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Dec 16, 2011, 12:12 AM
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Updated 4,527 days ago
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(AP) - Jon Corzine has navigated three days oftestimony on MF Global's failure without saying much to satisfylawmakers or clients who lost millions when the firm collapsed.
Legal experts say Corzine avoided slip-ups that might expose himto criminal prosecution. They say he chose his words carefully anddescribed events that would be hard to disprove.
Many note that the facts surrounding MF Global's demise willemerge from investigations by lawmakers, regulators andlaw-enforcement officials.
About $1.2 billion of client money was missing when MF Globalcollapsed. Corzine, a former Democratic senator and New Jerseygovernor, was CEO of the firm until he resigned last month.
Brokers such as MF Global generally must keep clients' money inseparate accounts.
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