Federal regulators are preparing to sue former New Jersey Gov. Jon S. Corzine over the collapse of a brokerage firm he headed after leaving office and its misuse of customer funds, the New York Times reported Tuesday.
The newspaper said the Commodity Futures Trading Commission is expected to approve the lawsuit this week.
Corzine headed MF Global until its bankruptcy in 2011 following disclosures that $1 billion customers had entrusted to the brokerage had disappeared.
The Times said the planned lawsuit marks a departure from the past in that the agency has informed Corzine's lawyers that it aims to file the civil case without offering him an opportunity to settle.