Friends of MF Global's Edith O'Brien: 'She's Being Set Up As A Patsy'

jon corzine

Friends are rallying around Edith O’Brien, the former MF Global treasurer accused by Jon Corzine of having approved the transfer of customer funds to cover an overdraft on a London trading desk.

According to Crain’s Chicago Business reporter Lynne Marek, O’Brien is being described by people who know her “as a careful professional more likely duped than devious.”

“People are intuitively of the opinion that she has done little, if anything, wrong and that she is being set up as a patsy,” an anonymous O’Briend friend and colleague of more than a decade told Marek.

A lawyer for Jon Corzine again fingered Edith O’Brien Friday as the person responsible for approving the transfer of customer funds to cover a margin call on a London trading desk, the New York Times reports.

In testimony last year, Corzine told a House subcommittee that O’Brien okayed the transfer. “I had explicit statements that we were using proper funds, both orally and in writing, to the best of my knowledge,” Corzine said. “The woman that I spoke to was a Ms. Edith O’Brien.”

On Friday, Congress released an email from O’Brien saying the funds were transferred “per JC’s instructions.”

O’Brien has declined to cooperate with investigators and will plead the Fifth Amendment at a Congressional hearing Wednesday.

Known as “Edie,” O’Brien, 46, is married and his two step daughters, Marek reports.

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