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Former New Jersey Governor Jon Corzine has begun testifying in the $3 billion trial between the brokerage he once ran, MF Global, and its accounting firm, PricewaterhouseCoopers. The legal remnants of the brokerage are suing the accounting firm, claiming that its negligence and malpractice led to the collapse of MF Global.
In this Thursday, Dec. 15, 2011, file photo, former MF Global Holdings Ltd. Chairman and CEO Jon Corzine testifies on Capitol Hill in Washington, before the House Financial Services Committee. The dispute between brokerage firm MF Global, run by former New Jersey Gov. Jon Corzine, and the accounting firm PwC goes to trial Monday, March 6, 2017.
Jon Corzine, the former New Jersey governor who led the collapsed brokerage MF Global, has been ordered to pay a $5 million penalty for his role in the firm's alleged illegal use of almost $1 billion in customer funds. A federal court in Manhattan on Thursday granted the order against Corzine to the U.S. Commodity Futures Trading Commission, which brought civil charges against him in 2013.