Bloomberg news reports that the CFTC sued Corzine in June for failing to oversee the brokerage company properly while it spiraled toward failure in 2011 as $1.6 billion in customer funds went missing.
After 'exhaustive investigations lasting 19 months', the CFTC hasn’t produced evidence to support its claims, Corzine said in a filing Tuesday in federal court in New York.
The CFTC’s complaint 'relies on irrelevant allegations calculated to sully Mr. Corzine’s character, as well as rambling hindsight criticisms of complex management decisions, many of which were made during times of extreme stress', Corzine said in the filing.
The CFTC alleges Corzine did nothing about inadequate controls over misuse of customer funds, that he was aware of the New York-based firm’s extreme shortage of cash and that he didn’t ask any questions about where the money was coming from to make transfers he ordered.
He also said he didn’t believe anything he said could reasonably have been interpreted as an instruction to misuse customer funds.
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