, R-Middle Village, said in a statement on Monday that the U.S. Dept. of Justice has a "conflict of interest" in investigating MF Global.
The financial brokerage firm reportedly lost track of $1.6 billion in customer funds under the leadership of former New Jersey Governor Jon Corsine, and is now defunct.
Turner and his House colleagues signed a letter to Attorney General Eric Holder, pointing out that Corzine has raised over $500,000 for President Obama’s re-election campaign. The signatories believe Holder's appointment by Obama presents a conflict.
“This issue has conflict of interest written all over it," said Turner, adding, "Jon Corzine’s relationship with the President and his administration severely complicates this case. Attorney General Holder should do what is right for the victims of this massive bankruptcy and appoint a special counsel immediately. Those who were affected by MF Global’s collapse deserve and investigation that is free of conflict and speculation.”
The letter, which was written by Staten Island Republican Michael Grimm, is being lauded by the Commodity Customers Coalition, a non-profit group working on behalf of former MF Global customers who have money tied up in the wreckage of MF Global.
“It is paramount that lawmakers on both side of the aisle to support his proposition to bring about justice to the 38,000 customers of MF Global who have had over $1.6B of their property taken from them and to restore some much-needed integrity to the American financial system,” said James Koutoulas, President of the CCC.
A copy of the letter can be viewed on the CCC Web site.