ER MF Global chief Jon Corzine yesterday told US senators he had never authorised a raid on customer funds at the bankrupt brokerage.
Corzine corrected his earlier statements about hundreds of millions of dollars in missing customer money but conceded there were “break the glass” contingency plans at the firm.
Last week Corzine told the agriculture committee he “never intended” to break rules about keeping customer funds segregated from firm money, but said that an employee may have misinterpreted his instruction that “you gotta fix it”.
Yesterday Corzine said: “I never gave any instructions to misuse customer funds.”
Two other executives, Bradley Abelow, chief operating officer, and Henri Steenkamp, chief financial officer, angered committee chair Debbie Stabenow when they said they could not provide answers about the cash.
It came as trustee James Giddens said the work of JP Morgan Chase could be investigated or action taken to recover money for brokerage customers. JP Morgan did not return calls.