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Senator Kyrillos Supports Call for Independent Counsel in MF Global Investigation

Press Release

Location: Middletown, NJ

Senator Joe Kyrillos announces support for efforts to appoint an independent counsel to investigate the collapse of MF Global Holdings, which resulted in the misplacement of $1.6 billion in customer funds. Kyrillos also urges Bob Menendez to support the request for independent counsel.

Kyrillos has been calling on Bob Menendez to recuse himself from the Senate Banking Committee investigation, following a hearing in which Menendez tried to shift the investigation away from MF Global CEO Jon Corzine. Corzine is the former New Jersey Governor and the man who appointed Menendez to the Senate in 2006

"More and more lawmakers are starting to realize that the only way we are going to get a fair investigation is if we have unbiased and independent counsel. The facts are not going to be uncovered until we have investigators who are willing to dig for the truth," said Kyrillos.

"I support the effort led by Rep. Grimm requesting that Attorney General Holder appoint an independent counsel. The collapse of MF Global and the misplacement of $1.6 billion in customer funds was a preventable tragedy and we need to get to the bottom of it. An independent counsel is a step in the right direction. Bob Menendez has a clear conflict of interest and should recuse himself from the Banking Committee investigation. It's the right thing to do. The investors in MF Global, and the people of New Jersey, deserve to find out what happened. People who did not play by the rules must be held accountable for their actions."

Last week during the hearing, Senator Menendez made it a point to steer the Committee's investigation away from Corzine's role in MF Global collapse: See no evil. Hear no evil.

Previously, the Star Ledger's Auditor shed light on the Menendez duck: "Menendez [is] not keen to question Jon Corzine on MF Global scandal on Senate Banking committee."

The column continued, saying Menendez doesn't want to be "questioning the man who handed him his current job."

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