Some industry executives are calling for a fresh crackdown on Former MF Global CEO Jon Corzine and a ban on his ability to trade futures. They cite his past actions and the fallout from the MF Global incident, where he oversaw the disappearance of $1 billion in customer funds.
“The regulator announced a settlement with MF Global in 2013, requiring the company to reimburse customers $1.2 billion and imposing a $100 million penalty. It took years for clients, including farmers, to recoup their funds through the bankruptcy process.”
Personally, Corzine paid a 5M dollar settlement to the CFTC while neither admitting nor denying the allegations