CFTC Sues Corzine Over MF Global Downfall

Law360, New York (June 27, 2013, 6:12 PM ET) -- The U.S. Commodity Futures Trading Commission on Thursday hit MF Global Inc. and its former CEO Jon Corzine with a lawsuit surrounding the alleged mishandling of approximately $1 billion in customer funds and announced a settlement that will provide full restitution to customers.

The settlement also calls for MF Global, the broker-dealer unit of co-defendant MF Global Holdings Ltd., to pay a $100 million penalty if there are funds left over after the customers are paid in full.

Though Corzine himself is not being accused of...
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