Former Goldman Sachs CEO and New Jersey Governor Jon Corzine agrees to pay a $5 million fine

Former Goldman Sachs CEO and New Jersey Governor Jon Corzine has agreed to pay $5 million to the Commodity Futures Trading Commission to settle a lawsuit over the 2011 collapse of his brokerage, MF Global.

That’s according to Reuters, which reports that Corzine has also agreed to never again register with the CFTC.

Corzine was the CEO of Goldman Sachs from 1994-1999. He was a US Senator from New Jersey from 2001 to 2006 and New Jersey governor from 2006-2010.

He was chairman and CEO of MF Global, a futures broker, from March 2010 until its bankruptcy in fall of 2011. The CFTC filed civil charges against Corzine for using money from customer accounts for corporate purposes, according to Market Watch.

In spring 2015, The Wall Street Journal reported that Corzine was considering starting a hedge fund with his own money and money from a small group of outside investors.

NOW WATCH: MICHAEL LEWIS: The biggest way Wall Street culture has changed since ‘Liar’s Poker’

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.