The CME Group says Jon Corzine's firm, MF Global, appeared to have moved some money out of client accounts after an audit by CME Group was completed last week. That comes as federal investigators are looking for hundreds of millions of dollars missing from MF Global client accounts. The New York Times reports the CME report fueled suspicions MF Global moved the money in its final days before filing for bankruptcy. CME said it completed an audit of the books and certified the firm was in compliance with rules mandating accounts be separated. It appears MF Global transferred money from accounts "in a manner that may have been designed to avoid detection." CME said it also appears MG Global did not follow CME rules mandating firms report immediately when client accounts fall below minimum collateral requirements.
In other developments, Gov. Christie has commented on the troubles surrounding Corzine and the investors of MF Global. Christie described Corzine as competitive and said he hopes the firm's investors can recover their money. Christie defeated Corzine in an ugly campaign two years ago. Christie says his relations with Corzine have been cordial since the election. The FBI is investigating what happened at MF Global. No one has been charged with anything but Corzine's image as a financial wizard is tarnished.