“I simply do not know where the money is, or why the accounts have not been reconciled to date.” former MF Global CEO Jon Corzine will tell a House panel today, regarding an estimated $1.2 billion dollars in client money that discovered missing after the brokerage firm went bankrupt.
The Washington Post obtained Corzine’s prepared remarks to the House Agriculture Committee ahead of today’s hearing.
Recommended Stories
“I had little expertise or experience in those operational aspects of the business.” the former CEO complains, adding that he was not an “expert” operating regulations.
Corzine also said that since his resignation from the firm, he has not been able to access information and that it would be “extremely difficult” to remember what happened.
“I sincerely apologize, both personally and on behalf of the company, to our customers, our employees and our investors, who are bearing the brunt of the impact of the firm’s bankruptcy.” Corzine will conclude in his opening statement.
Corzine is a former Goldman-Sachs CEO and former governor of New Jersey, prior to his role at MF Global, a position which he took after he was defeated for reelection by Governor Chris Christie.
Last Spring, Corzine, held a lavish $35,800 a plate fundraiser, for President Obama that was attended by Wall Street bankers.
