Congressman Calls for Independent MF Global Investigation

Congressman Calls for Independent MF Global Investigation

Representative Michael Grimm (R-N.Y.), together with other lawmakers and former MF Global customers, will officially call tomorrow for an independent counsel to take over the ongoing investigation into the causes of the MF Global debacle.

Last week, Grimm circulated a letter calling on Attorney General Eric Holder to appoint an independent counsel, citing former MF Global Chairman and CEO Jon Corzine’s political connections, including his longtime relationship with CFTC Chairman Gary Gensler, a former colleague at Goldman Sachs who has recused himself from the investigation.

Twenty-one other Republican members of Congress signed the letter, which also points out Corzine’s efforts to raise funds for President Obama’s re-election campaign.

In a recent twist to the MF Global saga, trustees representing MF Global Inc. and its parent company MF Global Holdings have wrangled over whether creditors or former customers will be the first to receive any recovered funds.

Read more about Grimm’s campaign.

Photo credit: Rob Pongsajapan

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About The Author


Elan Mendel

Elan Mendel

Elan Mendel is an associate with Shipkevich PLLC, and has done registration, compliance, and enforcement defense work for commodities, futures and forex firms registered with the CFTC and NFA as FCMs, RFEDs, and others. Elan also specializes in domestic and cross-border insolvency issues.

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