NEWS
MFG Trustee Report Blasts Corzine
Thu Apr 4, 2013 08:31 AM CDT

(Dow Jones) -- A risky business strategy, failure to improve inadequate systems, as well as "negligent conduct" by former Chief Executive Jon S. Corzine and others contributed to the unraveling of MF Global Holdings Ltd., a new report said Thursday.

The report, released by Louis J. Freeh, the trustee for MF Global's parent company, laid much of the blame at Mr. Corzine's feet, accusing him of implementing trading strategies with minimal oversight and exceeding board-approved limits for some European trades the company made under his stewardship.

A spokesman for Mr. Corzine couldn't be reached for comment.

The report also said ...

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