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President Barack Obama’s campaign has returned some $70,000 in contributions made by embattled MF Global chief Jon Corzine and his wife, a campaign official said on Friday.

Corzine, a former Democratic senator, governor of New Jersey and one-time leader of Goldman Sachs, was one of the top so-called “bundlers” and surrogates for the campaign, leveraging his elite network to lump together donations to benefit the Democratic incumbent’s re-election bid.

As of early last month, the former Goldman Sachs chief had raised donations of at least $500,000 for Obama’s 2012 effort.

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