not too big to fail

E-mails Offer Clues About Missing MF Global Client Funds

Former New Jersey Governor Jon Corzine attends the Child Mind Institute Inaugural Benefit at Cipriani 42nd Street on December 9, 2010 in New York City.
Corzine. Photo: Slaven Vlasic/Getty Images

Recently uncovered e-mails may help regulators understand the logistics of the many transactions” that occurred in MF Global’s last chaotic days, some transactions of which former chief Jon Corzine claimed he was not aware. Federal authorities continue to hunt for $1.2 billion in customer funds that mysteriously disappeared and remain missing.

The New York Times reports:

One e-mail chain refers to the transfer of roughly $200 million that MF Global owed JPMorgan Chase on Oct. 28 — the firm’s last business day before it filed for bankruptcy. In that chain, a senior official in the firm’s Chicago office was told to make the transfer, said the people close to the investigation who requested anonymity because the inquiry was still open.

That senior official is Edith O’Brien, whom Corzine mentioned during his testimony before Congress last week concerning the use of customer funds: “I had explicit statements that we were using proper funds, both orally and in writing, to the best of my knowledge,” he said. “The woman that I spoke to was a Ms. Edith O’Brien.”

Follow the e-mails.

Related: Jon Corzine Knew About Missing Money, Claims Senate Witness

E-mails Offer Clues on Missing MF Global Funds