The mid level MF Global exec the big-wigs planned on throwing under the bus in the MF Global missing client segregated funds scandal must have excellent legal advice.
MFG Treasurer Edith O'Brien has refused to meet with Federal authorities voluntarily as planned over the $200 million transfer to JP Morgan she authorized on Oct 30th unless she is given a deal to avoid prosecution.
It looks like the scapegoat will be plucked one rung further up the ladder.
The investigation into MF Global is intensifying as federal authorities unearth new details and confront potential obstacles in their hunt for roughly $1.2 billion in customer money that disappeared from the brokerage firm.
While prosecutors and regulators have jointly conducted dozens of depositions with former and current employees, a senior official in the Chicago office of MF Global recently declined to meet with the federal authorities, people briefed on the investigation said.
That official, Edith O’Brien, a treasurer at MF Global, is considered a “person of interest” in the investigation, the people said. Federal authorities suspect that she transferred about $200 million to JPMorgan Chase in London on the eve of the bankruptcy of MF Global, money that turned out to be customer cash.
Authorities had expected to interview Ms. O’Brien last month. She instead balked at meeting voluntarily, asking first to strike a deal with criminal authorities that would excuse her from prosecution, the people said.