Corzine - no criminal charges

Jon Corzine

Jon Corzine will not be cuffed over MF Global’s improper handling of customers’ funds leading up to the commodity brokerage firm’s spectacular collapse in late 2011, The New York Post has learned.

The newspaper reports that U.S. federal investigators have found no evidence that the disgraced Wall Street titan broke the law.

'After 18 months of investigation, the criminal probe into Jon Corzine is now being dropped', a person with knowledge of the probe told The Post.

'There is no evidence of criminal wrongdoing', this person said.

The Justice Department’s decision to drop the case is sure to come as a relief to Corzine, who has been widely blamed for MFG’s bankruptcy - as well as the misuse of some $1.6bn in customers’ funds.

Last week, Corzine was hit with civil charges by the Commodities Futures Trading Commission in connection with the illegal tapping of the funds, which were improperly co-mingled with the MFG’s house money in the firm’s final days.

The regulator also charged Edith O’Brien, MFG’s former assistant treasurer, for carrying out the illegal transfers in a desperate bid to keep the troubled company afloat.

Both Corzine and O’Brien have denied the allegations.

Corzine off the crook - No criminal charges

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