Former Willey's Station resident, Taylorville High School graduate and New Jersey Governor and US Senator of New Jersey Jon Corzine could soon find himself in some legal trouble over his failed securities firm. Corzine, the former chairman of MF Global, may reportedly be liable for some of the one-point-six-billion dollars in lost customer money.
"The Wall Street Journal" reports bankruptcy trustee, James Giddens, may sue Corzine and other MF Global executives for claims that include breach of fiduciary duty and negligence.
Giddens noted in a lengthy report filed in bankruptcy court this morning, that MF Global managers did not sufficiently monitor systems resulting in customer property being used to fund "extraordinary liquidity drains elsewhere in the business." Corzine resigned from the company last November, just a few days after MF Global filed for bankruptcy.