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Former MF Global CEO, other execs reach $132M settlement with trustee

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Former MF Global CEO, other execs reach $132M settlement with trustee

Bankruptcy trustee Nader Tavakoli and lawyers representingcustomers of the defunct MF Global agreed to a $132 million settlement thatwill end various lawsuits filed against individual executives of the company,including former CEO Jon Corzine, The WallStreet Journal reported.

The publication reported that Corzine still have to face alawsuit filed againsthim by the U.S. Commodity Futures Trading Commission in 2013 for allegedly misusingcustomer money, but the settlement reserves funds for his defense.

Corzine and other former MF Global executives have deniedmismanaging MF Global, which collapsed in 2011 after risky bets on Europeansovereign debt. In 2015, former executives and directors agreed to a settlement of alawsuit filed by investors.