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Regional & National

Senators demand answers on missing MF Global money

December 13th, 2011 11:53 am by DANIEL WAGNER and MARCY GORDON

WASHINGTON (AP) — Former Sen. Jon Corzine and two other MF Global executives have begun testifying to a Senate panel investigating what happened to $1.2 billion that disappeared when the securities firm collapsed this fall.

The three say in prepared testimony that they do not know where the money is. Nor do they take responsibility for authorizing the movement of money out of customer accounts.

Corzine resigned as CEO of MF Global after the firm filed for bankruptcy on Oct. 31. Also testifying are Bradley Abelow, the firm's president and chief operating officer, and Henri Steenkamp, the chief financial officer.

Corzine delivered similar testimony to a House committee last week. This time, he will be questioned by some of his former Senate colleagues.

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