WASHINGTON — Jon Corzine, the former senator and governor of New Jersey, is slated to tell a Congressional committee today that he does not know what happened to the customer funds that went missing in the run-up to MF Global's bankruptcy.
In a 21-page statement that will serve as the basis for his testimony this morning before the House Agriculture Committee, Corzine said he was "was stunned when I was told on Sunday, October 30, 2011, that MF Global could not account for many hundreds of millions of dollars of client money. I remain deeply concerned about the impact that the unreconciled and frozen funds have had on MF Global’s customers and others."
He goes on to say, "I simply do not know where the money is, or why the accounts have not been reconciled to date. I do not know which accounts are unreconciled or whether the unreconciled accounts were or were not subject to the segregation rules.
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