NEW YORK (AP) — A U.S. regulatory agency’s lawsuit can proceed against former New Jersey Gov. Jon Corzine over the collapse of a brokerage firm in one of the nation’s largest bankruptcies, a federal judge said Tuesday.

The judge said allegations by the agency, the Commodity Futures Trading Commission, provide “reasonable inferences” that Corzine illegally transferred funds from customer-segregated accounts while he was chief executive officer of the New York City-based MF Global Holdings Limited. More than $1 billion in customer money vanished. A former MF Global assistant treasurer is also accused.

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