Despite $1.6B Missing, DOJ Doesn't See Crime In MF Global

Law360, New York (August 17, 2012, 7:46 PM EDT) -- Though they misplaced about $1.6 billion in customer money while driving their brokerage into the ground, Jon Corzine and other top MF Global Inc. executives will likely escape criminal charges, a black eye for a U.S. Department of Justice already under fire for declining to prosecute major Wall Street players.

Having investigated the firm’s collapse for the past 10 months, the Justice Department is nearing a conclusion that the money went missing because of MF Global’s weak internal controls and the confusion that reigned during its...
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