Market Overview

Only in America: Corzine Eyes Starting a Hedge Fund


Jon Corzine, former CEO of the now defunct and bankruptMF Global Holdings may be considering starting up another hedge fund, according to a New York Times report.

As impossible as it seems to believe, once the ongoing criminal investigation into the MF Global mess is put to rest, Corzine appears to be entertaining the notion to get back on the financial horse he was thrown from.

According to the New York Times DealBook, “Mr. Corzine, in a bid to rebuild his image and engage his passion for trading, is weighing whether to start a hedge fund, according to people with knowledge of his plans. He is currently trading with his family's wealth.”

The former Goldman Sachs CEO will probably escape any criminal charges as the 10 month-long investigation comes to an end. Investigators have concluded that there was no fraud in the disappearance of over $1 billion of customer money, but rather “that chaos and porous risk controls” were to blame.

The former senator was called back to Washington to testify before a Senate committee. Corzine testified to the House Agricultural Committee last December and said “I simply do not know where the money is, or why the accounts have not been reconciled to date."

In an ironic twist, DealBook reported, Corzine, in an email to his employees in 2011 wrote: “Let's be an example of how to do it right and play a leadership role in restoring confidence in our industry.”

Posted-In: News Rumors Hedge Funds Politics Hot General


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