Shocked or not, involved in the fraud or not, Sarbanes-Oxley makes Corzine himself legally liable for what he certified in his capacity as CEO.
He said that to transfer funds, as was done, out of customers' accounts, would require back office staff. I said this over a week ago....it's not like Corzine could just piunch a button on his computer...but these people would NOT do this, without explicit directions from Corzine, even thoguh they all knew that it was completely illegal.
Why they went along is easy to understand..they believed Corzine, when he told them that it would all be put back in a few days, and that if thet didn't go along, the firm, and t heir jobs, would disappear. These back office staff are now cutting deals with the Feds..
If Corzine signed off on inaccurte statements, he is liable.
If Corzine falsified documents, he is prosecutable for several felonies.
Holding MF debt off the books is an Enron scan that put their CFO in jail.
Corzine apparently forced employees to buy stock of a failing company-—which got Enron’s ken lay indicted.