It's a strategy that's become de rigueur among troubled CEOs since the days of Enron: Chief executives claim they have no idea how their own companies work. Corzine also said that he was "stunned" when he was told "that MF Global could not account for many hundreds of millions of dollars of client money" just one day before the company filed for Chapter 11 on Oct. 31.
Corzine, a former senator and governor of New Jersey, said that he was not involved in the mechanics of the firm's trades and wasn't sure what happened. He resigned on Nov. 3.
|Disney halts sales of Moana costume after racism claims|
|The life and crimes of Sin City's million-dollar mail fraudster|
|Exposed: The secret powerhouse processing millions in global fraud|
|Say hello to Snap Inc.|
|You could have a Yahoo account without even knowing it|