Breathe Easy, JSC Capital Management Investors: Corzine Unlikely To Do Time Over MF Global

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Jon S. Corzine met with federal investigators last week to discuss MF Global Holdings and the estimated $1.6 billion that went missing from customer accounts when the brokerage firm failed, according to people familiar with the meeting. The discussions, held in New York over two days, were the first time the former MF Global chairman and chief executive spoke to Justice Department investigators about the New York company's final days. The criminal investigators, as well as civil regulators at the Commodity Futures Trading Commission and Securities and Exchange Commission, have been probing MF Global's demise to determine if there was any intent to remove money from customer accounts that should have been kept separate from the firm's own funds under federal rules...Progress on the criminal probe has been slow, and people involved with the investigation say it is increasingly likely that no criminal charges will be filed. [WSJ, related]

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