Jon Corzine announced that President and Chief Executive Officer of MF Global brokerage Friday that he resigned from the company that declared bankruptcy before the days affected by the debt crisis in the euro area, to be the first U.S. company to fall victim to the crisis in question.
The announcement of the company's bankruptcy as a result of loss as it carries sovereign bonds European $ 6.3 billion dollars, belonging to the Governments of Belgium, Ireland, Italy, Portugal and Spain, and reduced the major credit rating agencies rating the company in the last period to the worst degree as a result of their exposure to the debt crisis of Europe.
He said Corzine (64 years) that he took the difficult decision to resign, but "his own free will which is in favor of the company and its shareholders," and added that it would continue its support for the company and its board of directors in their efforts to answer the questions investigators on file for bankruptcy, and with respect to development of the company's assets.
The outgoing president had managed Goldman Sachs between 1994 and 1999 and was elected to the U.S. Senate for New Jersey governor and her later, he joined MF Global listed on Wall Street Stock Exchange in March / March 2010.
Multiple investigations
The institutions of American control over the financial sector to achieve an expanded about the activities of MF Global, where the investigation seeks to determine the fate of missing funds from the accounts of customers of the company are estimated at more than $ 600 million.
The bankruptcy of the company's seventh largest bankruptcy in U.S. history, according to Reuters, and raised questions about whether or FM Global has violated one of the basic rules for the work of brokerage firms, a separation of money from funds of its clients, prompting the Bureau of Investigation, the U.S., as well as supervisory authorities to investigate the files of the company.
Will discuss the investigators that the company, which apply to the judiciary to protect their assets from creditors, may have violated criminal laws, as quoted by The Associated Press for exporters close the file, The New York Post that the Attorney General in New York City to achieve its role in the case.
Source: Agencies