What would happen if you told your boss the 1,000 dollars you were entrusted with went missing?
MF Global boss doesn’t know where money is
MF Global, headed by Mr Corzine, made multi-billion dollar bets on eurozone debt
The head of bankrupt US brokerage firm MF Global, Jon Corzine, has told a congressional committee that he has no idea where its clients’ money has gone.
An estimated $1.2bn (£760m) in customer cash is missing from accounts.
The company filed for Chapter 11 bankruptcy on 31 October after making a $6.3bn bet on European sovereign debt.
In response to questions, Mr Corzine denied knowingly moving money from “segregated” customer accounts.
“I never intended to break any rules… I would never intend to direct or have segregated funds moved,” he said.
In written testimony read out to the committee Mr Corzine apologises to “all those affected” by the business’s failure.
