Holder’s Buddy Jon Corzine to Walk

NYT UPDATE: ‘No Criminal Case Likely Against Jon Corzine’

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

From an exclusive NYT story published late Wednesday, Jon Corzine will skate free and wants to start a new hedge fund.

Perfect.

NYT Dealbook

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

After 10 months of stitching together evidence on the firm’s demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case.

The hurdles to building a criminal case were always high with MF Global, which filed for bankruptcy in October after a huge bet on European debt unnerved the market. But a lack of charges in the largest Wall Street blowup since 2008 is likely to fuel frustration with the government’s struggle to charge financial executives. Just a few individuals — none of them top Wall Street players — have been prosecuted for the risky acts that led to recent failures and billions of dollars in losses.

In the most telling indication yet that the MF Global investigation is winding down, federal authorities are seeking to interview the former chief of the firm, Jon S. Corzine, next month, according to the people involved in the case. Authorities hope that Mr. Corzine, who is expected to accept the invitation, will shed light on the actions of other employees at MF Global.

Those developments indicate that federal prosecutors do not expect to file criminal charges against the former New Jersey governor. Mr. Corzine has not yet received assurances that he is free from scrutiny, but two rounds of interviews with former employees and a review of thousands of documents have left prosecutors without a case against him, say the people involved in the case who spoke on the condition of anonymity.

Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund, according to people with knowledge of his plans.  He is currently trading with his family’s wealth.

READ THE REST AT THE DAILY BAIL

Also:

CORZINE CRONYISM BOMBSHELL – High Ranking DOJ Lawyers And AG Eric Holder Were Partners In Firm That Represented MF Global

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This entry was posted in Bailout Nation, Banksters, CORRUPTION, New World Order, Post America and tagged , , , , , . Bookmark the permalink.

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