CFTC Seeks Lifetime Ban for Jon Corzine
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CFTC Commissioner Bart Chilton told FOX Business Network that the agency is seeking a lifetime industry ban for Jon Corzine related to MF Global's collapse. Chilton went on to say, that the CFTC did not charge Corzine with civil fraud
On whether the CFTC is seeking a lifetime industry ban for Jon Corzine:
"Yes... we actually are asking for a trading ban."
On whether the CFTC charged Jon Corzine with civil fraud:
"No, what we are charging him with is his violations of the law, with regards to segregated funds. And segregated funds are customer money and that money is supposed to be sacrosanct and it's a violation of that."
On whether the CFTC is seeking a lifetime industry ban for Jon Corzine:
"Yes... we actually are asking for a trading ban."
On whether the CFTC charged Jon Corzine with civil fraud:
"No, what we are charging him with is his violations of the law, with regards to segregated funds. And segregated funds are customer money and that money is supposed to be sacrosanct and it's a violation of that."
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