Ex-MF Global Edith O’Brien takes fifth at hearing

WASHINGTON (AP) — A former MF Global executive has refused to answer lawmakers’ questions about $200 million that was transferred out of a customer account days before the firm collapsed, invoking her Fifth Amendment right against self-incrimination.

Edith O’Brien, a former assistant treasurer at MF Global, was subpoenaed to testify before the House Financial Services oversight subcommittee hearing about an email she sent, which appears to contradict testimony from Jon Corzine, the firm’s then-CEO.

The email says Corzine ordered the transfer on Oct. 28 to cover an overdraft in the firm’s bank account in London. The committee cited the email in a memo released last week.

“On the advice of counsel, I respectfully decline to answer based on my constitutional right,” O’Brien responded to a question about the transfer.

Corzine testified in December that he never directed anyone to use customer funds to fix the overdraft and he wasn’t told that customer money was used.