Corzine Ordered Customer Funds Moved

A memo says former New Jersey Gov. Jon Corzine (D), who was head of brokerage MF Global as it failed and lost $1.6 billion in client money, gave “direct instructions” to transfer $200 million in customer funds to meet an overdraft in one of the firm’s bank accounts, Bloomberg reports.

“The money transferred came from a segregated customer account… Corzine testified that he never intended a misuse of customer funds at MF Global, and that he doesn’t know where client funds went.”