Good News! It's No Crime to Lose $1.6 Billion of Other Peoples Money

Fortunately for Jon Corzine, former Democrat Governor of New Jersey and major Obama bundler

It’s official.

Jon Corzine will not be cuffed over MF Global’s improper handling of customers’ funds leading up to the commodity brokerage firm’s spectacular collapse in late 2011, The Post has learned.

Federal investigators have found no evidence that the disgraced Wall Street titan broke the law.

“After 18 months of investigation, the criminal probe into Jon Corzine is now being dropped,” a person with knowledge of the probe told The Post.

“There is no evidence of criminal wrongdoing,” this person said.

Really?  There seems to be no evidence that George Zimmerman committed 2nd degree murder, either, but we seem to be having a trial just to discourage the type of behavior that might lead to killing in self defense.

The Justice Department’s decision to drop the case is sure to come as a relief to Corzine, who has been widely blamed for MFG’s bankruptcy — as well as the misuse of some $1.6 billion in customers’ funds.

I'm sure that's a relief; and nothing whatsoever to do with being a major figure in the Democratic party and supporter of the presidents campaign.  No federal bureaucracy (like say, the IRS or FBI) would stoop to aiding the current president and help to curb his political opponents.  That would be illegal.  If someone got caught...

However, he's not completely  off the hook.  He's being sued civilly by the Commodities Futrue Trading Commission.

Last week, Corzine was hit with civil charges by the Commodities Futures Trading Commission in connection with the illegal tapping of the funds, which were improperly co-mingled with the MFG’s house money in the firm’s final days...

The CFTC lawsuit relied on recorded telephone conversations to support their allegation that Corzine was fully aware of the transfers.

In one call, an employee told Corzine that some of the funds O’Brien transferred had not been returned, the lawsuit said. Corzine asked if O’Brien had received back “enough to be in compliance.” The employee replied, “No.”

Often, in civil trials, the rules that require evidence to be strong are much more relaxed than in criminal trial, requiring only a "preponderance of evidence" (interpreted as 50.0...01%) rather than evidence beyond a "reasonable doubt." One can only hope.