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.”
David Einhorn Buys Three New Stocks: These Are The Names And Theses (Q3 Letter)
David Einhorn's Greenlight Capital funds returned 5.9% in the third quarter of 2020, compared to a gain of 8.9% for the S&P 500 in the same period. This year has been particularly challenging for value investors. Growth stocks have surged as value has struggled. For Greenlight, one of Wall Street's most established value-focused investment funds, Read More
Watch the latest video at <a href=”http://video.foxbusiness.com”>video.foxbusiness.com</a>Watch the latest video at <a href=”http://video.foxbusiness.com”>video.foxbusiness.com</a>
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.”