Wall Street Racketeering Alleged

As reported in Bloomberg (2012, January 21):

Jon Corzine, MF Global Holdings Ltd.’s former chief executive officer, was sued under U.S. racketeering law by commodity customers alleging he and other executives "unlawfully" took money from their accounts and failed to segregate their money as the law requires.

The suit alleges that MF Global transferred "hundreds of millions of dollars" from customers' accounts into house accounts to resolve cashflow problems.

Hon Jon Stevens Corzine (1947- )

If Wall Street executives with close ties to government are engaging in "racketeering," then society truly is dealing with a bankster clan of the worst kind...

Source: Sandler, L (2012, January 21), Corzine Sued for RICO Violation by MF Global Customers, Bloomberg.

Related Posts