PricewaterhouseCoopers LLP is putting the blame on MF Global Holdings Ltd.’s former chairman Jon Corzine for the New York brokerage’s collapse in 2011, Bloomberg News reported yesterday. "Its bankruptcy was caused by its risky trading, its unprofitable business and other problems" James Cusick, a lawyer for PwC, told jurors yesterday in Manhattan at the start of a $3 billion trial over who’s to blame for MF Global’s failure. "Mr. Corzine was the mastermind and the driver of that strategy." The accounting firm is fending off accusations it contributed to MF Global’s meltdown. Cusick blamed the brokerage’s strategy of investing in European sovereign bonds for the firm’s bankruptcy. U.S. District Judge Victor Marrero delayed the case last month in hopes the parties would settle. The trial is projected to last four to five weeks and will likely feature Corzine on the witness stand.
