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Criminal Charges Unlikely for MF Global (NYTimes)

A 10-month investigation into losses at the brokerage will likely end without charges for top executives.

No criminal charges are expected as the criminal investigation of MF Global’s loss of $1 billion in customer money comes to an end, the New York Times reports. Authorities are seeking to interview Jon Corzine, the former CEO of the brokerage, which signals that they do not expect to bring criminal charges against him. However, Corzine still faces fallout from customer lawsuits and civil actions which could cost him millions or banish him from Wall Street.

Investigators are still looking into the actions of Edith O’Brien, an assistant treasurer who supervised the transfers of customer cash that disappeared. In congressional testimony last year, Corzine described conversations he had with O’Brien during that time. 

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