Corzine: 'I Simply Do Not Know Where the Money Is'

Former MF Global chief testifies today
By Kate Seamons,  Newser Staff
Posted Dec 8, 2011 8:36 AM CST
Jon Corzine.   (AP Photo/Rich Schultz, File)

(Newser) – In an appearance before a House panel today, Jon Corzine plans to offer up an apology—but not much else. "I simply do not know where the money is, or why the accounts have not been reconciled to date," the former MF Global chief will testify before the House Committee on Agriculture, according to prepared remarks and as reported by Reuters. As for "all those affected" by the eighth-largest bankruptcy in US history, he is sorry, saying, "Their plight weighs on my mind every day—every hour."

Beyond the lengthy prepared remarks, he likely won't share much more. The New York Post yesterday reported that he plans to take the Fifth, and the AP reports that Corzine himself said many people, if in his shoes, would go that route. But as a former senator, he says he recognizes that "it is appropriate" for him to respond to any questions he is asked today, and will try to. But don't hold your breath: He also noted that since leaving the firm he hasn't had access to certain documents he might need to "reconstruct the events that occurred during the chaotic days and the last hours leading up to the bankruptcy filing." He adds, "Even when I was at MF Global, my involvement in the firm's clearing, settlement, and payment mechanisms and accounting was limited." The AP notes that anything he says today could be used against him, should he ever face charges in the case.

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