FOXNews.com: Ex-MF Global treasurer declines to testify about alleged Corzine money transfer

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Ex-MF Global treasurer declines to testify about alleged Corzine money transfer Mar 28th 2012, 20:12 A top former MF Global executive declined to testify Wednesday during a House hearing on whether she approved or had knowledge that CEO Jon Corzine approved a transfer of nearly $200 million in customer funds to cover losses days before the brokerage firm collapsed. Edith O'Brien, the firm's former assistant treasurer, invoked her Fifth Amendment rights to not testify. Her appearance before House Financial Services' oversight subcommittee came after congressional investigators recently acquired an email contradicting Corzine's testimony that he did not order the transfer. O'Brien also decline to comment on a published report that she is seeking immunity for her cooperation in an investigation. The firmed file for bankruptcy Oct. 31 after a disastrous bet on European debt. It was the eighth-largest bankruptcy in U.S. history and resulted in farmers, ranchers and other customers losing roughly $1.6 billion. Those in the agriculture business use such firms to help reduce their risks in an industry vulnerable to swings in oil, corn and other commodity prices. Corzine, a former New Jersey senator and governor, told lawmakers in December that he never instructed anybody to misuse customer money. O'Brien was among several MF Global officials Wednesday to claim little to no knowledge about the activities of the firm in its final days, including who ordered the transfer of customer funds to cover losses.

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