Zubrow, an outsider, was well aware of the possibility that customer funds had been transferred.Tags: dating my american gun co shotgunbusiness dating service No money free online skype sexy video chatbest asian online dating site Free sex cams no registration free sex cams no registration free sex cams no registration Srilankan pussy photos Wednesday, Oct 26, and Thursday, Oct 27, 2011: "Substantial Deficit" in Customer Accounts Christine Serwinski, MF Global's chief financial officer for North America, testified in a March 28, 2012 congressional hearing that she was told on October 27 of a "substantial deficit" in customers' accounts for October 26, the previous day.She claimed the deficit didn't violate rules -- which is implausible given other events of that week (see MF Global's check kiting below).Obviously there was a huge problem at MF Global and this would have gone to the top of the house, to CEO Jon Corzine, in a firm that had any sort of reasonable corporate governance.("Clients Raise Questions About MF Global Checks," Dealbook, April 1, 2012, by Azam Ahmed and Ben Protess, and "MF Global and the Rubber Check," by Matthew Goldstein, Reuters, November 5, 2011.) Oct.P." Bloomberg News reported that on October 28, Edith O'Brien, an assistant treasurer for New York-based MF Global, wrote an email saying that a 0 million transfer of funds was "Per JC's direct instructions." It turns out that part of that money was customer money, and the transfer was impermissible.In my opinion, Corzine knew or should have known there was a strong probability that customer funds would be transferred.The transfer, the email said, was a 'House Wire,' meaning that it came from the firm's own money.
But MF Global was short of funds, and the money that seemingly magically appeared in its 'nonseg' account was first transferred from a customer account.
Obviously there was a huge problem at MF Global and this would have gone to the top of the house, to CEO Jon Corzine, in a firm that had any sort of reasonable corporate governance.
JPMorgan sent additional versions of this letter in response to MF Global's requests for revisions, but JPMorgan never received a signed letter back.
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