CME'S Duffy Said Corzine Knew Of Loan To MF Global Affiliate
December 13 2011 - 5:14PM
Dow Jones News
Former MF Global Holdings Ltd. (MFGLQ) Chief Executive Jon
Corzine was aware about a loan to one of the firm's affiliates made
using customer segregated accounts, according to CME Group
Executive Chairman Terrence Duffy.
Duffy, testifying before the Senate Agriculture Committee
Tuesday, says a CME auditor was informed of the matter by a senior
MF Global executive during a telephone call before the firm's
collapse.
Duffy said he learned of the disclosure this weekend and that
the loan was about $175 million for a European affiliate. CME Group
has referred the matter to the Justice Department, he added. Duffy
declined to publicly identify the name of the MF Global official
who said Corzine was aware of the breach of customer
segregation.
-By Andrew Ackerman; 202-569-8390;
andrew.ackerman@dowjones.com
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