Investors who got bilked out of their savings by the collapse of MF Global are cheering reports that the federal regulators are on the verge of suing former CEO Jon Corzine for negligence.

“He was the man in charge, so I hope they come down on him,” said MFG investor Dan McCool of Palm Beach Gardens, Fla.

Corzine, a former New Jersey governor and senator, would avoid criminal prosecution.