Jon Corzine to face fraud charges

A regulator in the US has filed civil charges against Jon Corzine, the former New Jersey governor and ex-chief executive of the collapsed MF Global brokerage, in connection with the alleged misuse of customer funds.

The Commodity Futures Trading Commission (CFTC) also filed charges against Edith O'Brien, the former assistant treasurer of MF Global. Charges against MF Global have been settled after it agreed to a deal under which it will pay a $100m penalty, and pay back all the funds it still owes customers. The deal still needs to be approved by a court.