Authorities are unlikely to file criminal charges against Jon Corzine and other top MF Global...

|About: MF Global Holdings Ltd. (MFGLQ)|By:, SA News Editor

Authorities are unlikely to file criminal charges against Jon Corzine and other top MF Global execs after concluding that weak risk controls and chaos rather than fraud led to the disappearance of around $1B in customer money, the NYT reports. Regulators are still mulling civil action, while Corzine & Co. also face client lawsuits, which bankruptcy trustee James Giddens has agreed to co-operate with.