Corzine off the crook
By Kaja Whitehouse July 8, 2013 | 4:00am
Jon Corzine will not be cuffed over MF Global’s improper handling of customers’
funds leading up to the commodity brokerage firm’s spectacular collapse in late
2011, The Post has learned.
Federal investigators have found no evidence that the disgraced Wall Street
titan broke the law.
“After 18 months of investigation, the criminal probe into Jon Corzine is now
being dropped,” a person with knowledge of the probe told The Post.
“There is no evidence of criminal wrongdoing,” this person said.
The Justice Department’s decision to drop the case is sure to come as a
relief to Corzine, who has been widely blamed for MFG’s bankruptcy — as well as
the misuse of some $1.6 billion in customers’ funds.
Last week, Corzine was hit with civil charges by the Commodities Futures
Trading Commission in connection with the illegal tapping of the funds, which
were improperly co-mingled with the MFG’s house money in the firm’s final days.
The regulator also charged Edith O’Brien, MFG’s former assistant treasurer,
for carrying out the illegal transfers in a desperate bid to keep the troubled
Both Corzine and O’Brien have denied the allegations.
Criminal investigators, including federal prosecutors and the FBI, have been
probing the breach since shortly after it was uncovered with its Halloween 2011
At the time it was the eighth largest bankruptcy in US history — and the
largest since Lehman Brothers went under in September 2008.
Investigators last interviewed Corzine, who has denied authorizing the
transfers, in September 2012, sources said.
The criminal probe then appeared to run out of steam until a few months ago
when O’Brien was granted immunity and agreed to cooperate.
Unfortunately for mad-as-hell MFG customers, many of whom are still owed money,
the talks with O’Brien failed to convince the feds of any Corzine guilt.
Representatives for Manhattan US Attorney Preet Bharara’s office and the FBI
declined to comment, as did a spokesman for Corzine.
The CFTC lawsuit relied on recorded telephone conversations to support their
allegation that Corzine was fully aware of the transfers.
In one call, an employee told Corzine that some of the funds O’Brien
transferred had not been returned, the lawsuit said. Corzine asked if O’Brien
had received back “enough to be in compliance.” The employee replied, “No.”
Jeff Corzine, Son of Ex-N.J. Governor, Dies in Mexico
By Terrence Dopp and Nacha Cattan Mar 13, 2014 11:36 PM CT
Jeffrey Corzine, the youngest son of Jon Corzine, the former co-chairman of
Goldman Sachs Group Inc. (GS) and governor of New Jersey, killed himself in
Mexico after a struggle with depression, representatives of the family and the
U.S. Embassy in Mexico City said yesterday.
Steven Goldberg, the family spokesman, said Jeffrey Corzine had been under
treatment for the illness, without saying where he died. Melissa Martinez, an
embassy spokeswoman responding to questions about Corzine, said a U.S. citizen
died in Mexico on March 11 and referred reporters to Goldberg.
“Jeffrey Corzine had been suffering from severe depression for several years and
recently had been receiving treatment for what is a very painful and
debilitating physical and mental ailment,” Goldberg said in a statement late
yesterday. “On Tuesday morning, he succumbed to his disease and made the tragic
decision to take his own life.”
Corzine, who was 31 according to public records, listed his home as Malibu,
California, on his Facebook Inc. account. For the past 10 years, he had worked
to help other people “overcome their struggles with depression and addiction,”
Goldberg said, without giving details.
In 2012, Jeffrey Corzine won Warren Buffett’s 237-player poker tournament, the
NetJets Poker Invitational, at Wynn Las Vegas, according to results published by
the NetJets Inc. unit of Buffett’s Berkshire Hathaway Inc. (BRK/A) The game,
open to customers of the fractional-ownership program, had a grand prize of 10
flight hours on a Bombardier Inc. Global-series plane valued at $150,000.
Photographer: William Thomas Cain/Getty Images
Jeffrey Corzine, son of former New Jersey Governor, and Goldman Sachs Group Inc.
co-chairman Jon Corzine.
Jeffrey Corzine is survived by a sister, Jennifer; a brother, Josh, and his
parents. Jon Corzine and his wife, Joanne, divorced in 2003. Goldberg said the
family is planning a private memorial service.
A photograph posted on the younger Corzine’s Facebook page showed him with
President Barack Obama, who campaigned for his father’s re-election as governor
in 2009. Jon Corzine, a Democrat, was defeated by Republican Chris Christie.
“My thoughts and prayers are with Governor Corzine, Joanne and the entire
Corzine family,” Christie, the current New Jersey governor, said in a statement.
“They are both devoted parents and the loss they have suffered is unthinkable.”
In 2007, Jeffrey Corzine was present every day at Cooper University Hospital in
Camden where his father spent 18 days after a near-fatal car crash while
governor. Jon Corzine emerged from that episode saying he held a newfound
appreciation of family and that it had caused him to rethink his priorities.
The former governor spent 24 years at New York-based Goldman Sachs, becoming
co-head of the firm with Henry Paulson, who later became the U.S. Treasury
secretary under President George W. Bush. After Corzine was ousted from Goldman
Sachs in 1999, he won a U.S. Senate seat representing New Jersey in 2000 and
then was elected the state’s governor in 2005.
Corzine, now 67, took command of MF Global Holdings Inc., a commodity broker, in
2010. He is fighting a lawsuit brought by the Commodity Futures Trading
Commission over allegations that he failed to properly oversee the company’s
brokerage unit as it spiraled toward failure in 2011, as $1.6 billion in
customer funds went missing.
To contact the reporters on this story: Terrence Dopp in Trenton at firstname.lastname@example.org;
Nacha Cattan in Mexico City at email@example.com
To contact the editors responsible for this story: Stephen Merelman at firstname.lastname@example.org
Pete Young, Michael Shepard
Jeffrey Corzine Dead: Son Of Former New Jersey Governor Dies At 31
AP/The Huffington Post
Posted: 03/13/2014 4:58 pm EDT
Jeffrey Corzine, son of former New Jersey Gov. Jon Corzine (D), has died at age
31, according to the New York Post and New York Daily News.
“Mr. Corzine is obviously devastated by this tragic loss,” Jon Corzine spokesman
Steven Goldberg said. “We ask that all respect his family’s privacy during this
very difficult time.”
Corzine, 31, was the youngest of the former governor's three children. According
to the Post, friends said had worked as a drug counselor in California.
NEWARK, N.J. (AP) — Former New Jersey Gov. Jon Corzine's (KOHR'-zynz) son has
Corzine spokesman Steven Goldberg won't say where or when 31-year-old Jeffrey
Corzine died. Details regarding the cause of death also haven't been disclosed.
Goldberg says in a statement issued Thursday the former governor "is obviously
devastated by this tragic loss" and seeks privacy "during this very difficult
Jeffrey Corzine was the youngest of the former politician's three children with
ex-wife Joanne Corzine.
Jon Corzine was a Wall Street CEO before turning to politics and becoming a
Democratic U.S. senator and later New Jersey governor.
This post has been updated with more from the AP.
Corzine’s collapsed firm must pay $1.2B settlement
By Kevin DuganDecember 24, 2014 | 11:01pm
Jon Corzine probably would have preferred a lump of coal in his stocking.
MF Global — the brokerage firm that collapsed when Corzine was its chief
executive — has to pay $1.2 billion in restitution and a $100 million civil fine
after it was found to have improperly used customers’ money to prop up its
faltering trading operations.
A Manhattan federal judge approved the settlement with the Commodity Futures
Trading Commission on Wednesday.
The CFTC, which was MF Global’s main regulator, is still pursuing a case against
Corzine and the company’s former assistant treasurer, Edith O’Brien. The former
execs could face fines as well as a ban from trading commodities.
The settlement with the CFTC doesn’t affect another class-action lawsuit against
Corzine, according to the order by Judge Vincent Marrero.
Corzine, a former New Jersey governor and an ex-chairman of Goldman Sachs, ran
MF Global until its bankruptcy in October 2011, when investors got spooked by
the firm’s $6.3 billion bet on shaky European government bonds — and pulled
In the chaos that ensued, the company used customer funds to cover funding
shortfalls. Corzine has had no luck getting the courts to dismiss suits holding
him accountable for his role in the firm’s collapse.
Representatives for Corzine, MF Global and the CFTC didn’t return phone calls
and e-mails seeking comment.
FILED UNDER GOLDMAN SACHS, JON CORZINE, MF GLOBAL HOLDINGS
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