Thursday, 24 July 2014
Last updated 27 min ago
Aug 16 2012 | 11:41am ET
Former MF Global chief Jon Corzine is mulling a hedge fund launch as reports indicate that he is no longer facing criminal charges in the collapse of the futures brokerage.
Investigators spent 10 months looking into the firm's failure and the disappearance of about $1 billion in customer money. But they haven't found anything criminal and are close to concluding that there was no fraud involved.
Corzine himself may help close the book on the matter next month: Authorities have asked to interview him, and he is expected to meet with them, The New York Times reports.
But Corzine isn't only looking backward. Currently trading his family's money—which is imperiled by a series of civil lawsuits stemming from MF Global's collapse—Corzine is thinking about launching a hedge fund, according to the Times. The Gray Lady notes that his motivation is twofold: to engage his passion for trading, and to rebuild a reputation that has taken a series of hits over the last several years.
Corzine had appeared to reinvent himself as a politician in the wake of his ouster as CEO of Goldman Sachs in 1999. Elected to the U.S. Senate from New Jersey in 2000, he was elected the Garden State's governor in 2005. But he was ousted in 2009 by now-Gov. Chris Christie, taking over MF Global months after leaving office.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…