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CFTC officially filing civil charges against Jon Corzine collapse of MF global -- firm was -- a hundred million dollars order to make payments to all customers.
The charges all civil charges by the way no criminal charges for improper -- -- customer funds in the final days of the firm with us now is -- -- Who I think is has dab the sweat off his brow provide I didn't actually see that your your -- Charlie gets -- -- but I heard it was.
It was something I hope your knuckles of cooled -- -- bit.
No no I'll always enjoy hearing from Charlie -- -- the deputized him -- -- fights I could do a lot better than that you can use him as your attack dog get him after the depression don't they wouldn't stand a chance.
-- good guy we need him by the way -- yeah of course his his beef was that there were no criminal charges that there wasn't fraud.
Do you think there should have been.
Yeah it's really an issue David further Department of Justice whether or not they they file criminal charges you know.
My belief is a citizen is -- -- any time somebody does the crime they should do the time and you know but our authority is limited to finding.
And so we are trying to fine through the allegations that we're making in court today you do the best you can't -- the authorities you have.
Bart I didn't know that -- -- -- your opinion but I have to ask are you going to be the last body do you think to file charges against Jon Corzine is certainly the tristate.
By the way associated statement there of course celebrating.
This this move by you today but do you think that there's going to be more charges against -- his Jersey off.
Well I mean you know this court case will take fell off a long time here is Cheryl and I and I can't really speak for -- -- can't speak often -- -- -- justice.
Just as a citizen and I hope if they if they believe there's evidence that they.
Go after any perpetrators to the fullest extent of a lot.
And that's what we're doing in this case with our authority and meet the misuse of this customer.
They have these customer funds which -- supposed to never be used in order to cover bets.
-- -- sovereign debt and other things that should have never been allowed end you know they they hid the circumstance.
There is a failure on mr.
Corzine's part we alleged to.
A failure to supervise.
None of this that we should have gone on.
And then -- ms.
O'Brien -- that aided and abetted in the misuse of those customer funds both draw -- are allegations are court case and.
Without a story that we have were gonna go after Bart.
A former United States senator a former governor of the state of New Jersey very powerful man in the financial world but more importantly in the political world.
Our good friends a bottler in fact for President Obama and his.
Election -- initial election campaign was the did you see any sign at all subtle direct.
What ever that he tried to use political influence to affect your decision.
A -- not not with us for sure David.
That it would it would never fly and I I don't believe the senator would do that anyway I backed -- you know off at our view is that this case is based upon the evidence that we found -- and if you're redux.
The court case I know these are a lot of pages but it's actually fairly interesting guys 47 pages and in there you'll see some of the foreign phone conversations.
On recorded lines that we received.
And that you know it sort of got me angry and re reading some of these things I'd be I'd become a little bit.
Jaded over the course of this investigation.
And when I read them all sort of in a nutshell again last night and then this morning.
It is very frustrating -- disappointing that we're even in this circumstance.
But to -- holding the 47 page complain actually my hands -- -- point your attention to page three.
Yet he said he bear responsibility for -- -- global small plaques he exercised direct or indirect control over MF global holdings.
Either did not act in good faith or knowingly induce these violations -- are tough to prove in court.
How confident are you.
That you can get -- -- jury.
Go to go to page 22 in 2424.
You'll see a phone conversation I believe it's when he for.
And you know I I'm pretty -- -- -- wrapped.
Yeah right I mean you'll have to they don't look this is again these are allegations this is the evidence we're providing.
A jury also have to to make these determinations but from our perspective we had a very solid case.
And when you when you look at that stuff.
You know and and it's digging through the wins a little bit.
But affirm from my perspective we've we are at our attorneys have done it just a fabulous job of putting together really rock solid case and we -- short -- presenting it to a jury judge and -- jury.
Barge shall what a stand up guy Bart thank you so much for coming back and talk to us we really appreciate -- congratulations we wish you -- bottom up -- -- to say don't get back to.
Thank you very scary -- of every weekend.
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