MF Global Holdings Ltd. collapsed last year because of mistakesmade by former chairman and chief executive officer Jon S. Corzine,according to a summary of findings from a probe led by U.S. HouseRepublicans.

Corzine expanded into new areas of business without ensuring itscore commodities trading business, according to the findingsreleased today by Representative Randy Neugebauer, the TexasRepublican and chairman of the U.S. House Financial Servicessubcommittee that pursued a yearlong investigation into thecollapse. Corzine, a former U.S. senator, governor of New Jerseyand Goldman Sachs Group Inc. co-chairman, has testified to Congressthat he doesn't know what happened to the money.

“Choices made by Jon Corzine during his tenure as chairman andCEO sealed MF Global's fate,” Neugebauer said in an e-mailstatement. “By expanding MF Global into new business lines withoutfirst returning its core commodities business to profitability,Corzine ensured that the company would face enormous resourcedemands and exposed it to new risks that it was ill-equipped tohandle,” the report states.