The Wall Street Journal reported that aside from a need for cash, being hounded by regulators and the threat of possible downgraded ratings, the leadership of MF Global Holdings, former executive Jon S. Corzine and two of his top lieutenants, is to blame for the brokerage firm’s demise.
The article said that, according to the 61-page lawsuit, former FBI director Louis Freeh accused Corzine and his former COO and finance chief of “acts and omissions” over the course of several months that were “grossly negligent.”
To read the entire WSJ story, click here.
Previously on abfjournal.com:
MF Global Seeks Approval to Liquidate Assets, Friday, April 05, 2013