Former New Jersey Gov. Jon Corzine could face a lawsuit from the trustee trying to recover $1.6 billion in customer money from the collapse of the brokerage MF Global.
James Giddens, the trustee overseeing the liquidation of the company, said in a bankruptcy court filing Monday that he may sue Corzine for breach of fiduciary duty and negligence.
Giddens said his investigation found that Corzine, who took over as MF Global CEO in March 2010, led the company to trade in unsafe securities. Corzine declined comment through a spokesman.