Damning Report Aside, MF Global's Corzine May Walk
Law360, New York (April 4, 2013, 8:45 PM EDT) -- MF Global Holdings Ltd.'s bankruptcy trustee on Thursday pinned the brokerage firm's collapse on former CEO Jon Corzine, but attorneys say the executive's supposed negligence and poor business decisions may not be enough to put him behind bars.
In a damning 124-page report, MF Global bankruptcy trustee Louis Freeh alleged Corzine and other executives knew about firmwide lapses in risk management but failed to correct them. That made it "almost impossible" to monitor Corzine's massive trades in European sovereign debt, which sank the firm in October 2011, the report said.
"The negligent conduct identified in this report foreseeably contributed to MF...
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