Corzine steps down from troubled MF Global

Former New Jersey Gov. Jon Corzine has resigned as chairman and CEO of MF Global, which filed for bankruptcy on Monday.

Former New Jersey Gov. Jon Corzine has resigned as chairman and CEO of MF Global, which filed for bankruptcy on Monday.

Corzine said he will not seek $12 million in severance payments. He offered the following statement announcing his exit Friday morning: “I have voluntarily offered my resignation to the board of directors of MF Global. This was a difficult decision, but one that I believe is best for the firm and its stakeholders.”

The New York Times is also reporting that Corzine, the former CEO of Goldman Sachs, has hired criminal defense lawyer Andrew Levander. Late Tuesday, the FBI said it would begin an investigation into an approximately $900 million discrepancy in client funds at the firm.

On Wednesday, FTI Consulting's strategic communications practice confirmed to PRWeek that the agency is playing a key role in ongoing strategic communications for MF Global. FTI's relationship with MF Global began nearly four and half years ago when it filed its IPO.

An attorney for MF Global also said during a bankruptcy court hearing that the company has hired FTI.

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