Ex-MF Global boss to be sued

City A.M. Reporter
JON Corzine is to be sued by the liquidators of MF Global, who accuse the ex-CEO of negligently pursuing a high-risk strategy that culminated in the commodities brokerage’s destruction.

The trustee said in the lawsuit that Corzine and two top deputies overhauled the business without addressing “systemic weaknesses” in oversight and monitoring.

Corzine, 66, is a former Goldman Sachs chairman.

A spokesman for Corzine criticised the report’s claims.