No Criminal Case Is Likely in Loss at MF GlobalSubmitted by kevink on Fri, 08/17/2012 - 08:57
Surprise surprise. Looks like the politically well-connected Corzine is off the hook for criminal charges.
Now they're going to interview him and no doubt that will be used to "crackdown on loopholes in regulation". In other words, they'll use this to build a case for more regulation that favors the crony capitalist types. Heck, maybe they'll even appoint Corzine commissioner of some oversight committee!
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.