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Now to a fox business exclusive. new revelationses in the ms global case. he didn t know anything about the misuse of client s money ahead of the firm s collapse. while corzine denied ms global but looks like the chief financial office for north america. he had a different story. here s what sources told our own charlie gasporino. jon corzine in the missing customer fund. she was basically saying he knew that the money was being missed the money was being used and there were problems in the way it was being used that s what she told people initially. told congress she was on vacation but says she communicated she was not comfortable with the firm
Many on wall street if this situation, so, at best, he wasn t too bright. guest: if that is the case because you have so many people that are out this is segregated customer funds and that is a big deal. neil: when you raid customers funds to keep the company afloat, that i am told is a no no but it was raced with charles gasparino but i don t know if it is out and out illegal. guest: usually it is overnight only. neil: do you think it sill legal? guest: yes under this circumstance. neil: if he gave it the okay, he has done something legally wrong? guest: he will go do jail. if he gave that order he will go to jail. but when you have this much, the a customer fund thursday missing, and because they were taken from segregated funds that breaches the integrity of our
Billion of missing customer funds. i never gave any instruction to misuse customer fund. i never intended anyone at mf global to misuse customer fund. those first young men.
But the chief financial officer and chief operating officer said don t look at me. if i could ask to you provide an example of how $1.2 billion of customer fund could be transferred and disappear without any laws or regulations being violated give as you hypothetical scenario how that could happen without breaking laws or existing regulations. i never directed anyone at mf global toisuse customer funds. i do not recall participating in any conversation about the use of customer funds. i did not authorize approval of any transfers of customer funds for in-house broker