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MF Global’s Corzine Ordered Funds Moved to JPMorgan, Memo Says

By Phil Mattingly and Silla Brush Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase & Co. (JPM)accounts in London, according to an e-mail sent by a firm executive.

Edith O’Brien, a treasurer for the firm, said in an e-mail sent the afternoon of Oct. 28, three days before the company collapsed, that the transfer of the funds was “Per JC’s direct instructions,” according to a copy of a memo drafted by congressional investigators and obtained by Bloomberg News.

O’Brien’s internal e-mail came as the New York-based broker found intraday credit lines limited by JPMorgan, the firm’s clearing bank as well as one of its custodian banks f

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Added: Mar-23-2012 Occurred On: Mar-23-2012
By: marc1921
In:
Politics
Tags: MF, Global, , Corzine, JPMorgan, Crooks, Liars, Thieves, democrats
Location: New York, New York, United States (load item map)
Views: 4468 | Comments: 2 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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