Criminal Case Against MF Global Looks “Highly Unlikely”

FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports FBI investigators looking into the collapse of MF Global “are having a very difficult time proving criminal intent.” Sources tell Gasparino investigators have “talked to dozens of people at MF Global” but “have not yet taken a deposition from Jon Corzine” indicating they don’t have a case against the company yet. Gasparino said his sources think a criminal case against MF Global is “highly unlikely.”

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Excerpts from the report are below.

On the investigation into the collapse of MF Global:

“Sources tell the FOX Business Network the criminal case right now looks highly unlikely. The investigators are having a very difficult time proving criminal intent in the disclosure of the details leading up to the implosion of MF Global. They see a lot of sloppy bookwork. Sources are telling me Jon Corzine’s firm wasn’t managed very well, but in terms of proving they intentionally misused that money, they are having a very tough time. They doubt a criminal case will result from this. Investigators from the FBI have talked to dozens of people at MF Global, former employees. From what we understand, they have not yet taken a deposition from Jon Corzine. They take that deposition when they think they have a case. So they haven’t gone to him yet.”

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