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House Panel Subpoenas Corzine Over MF Global

Friday, December 02, 2011

A Congressional panel has subpoenaed former New Jersey Governor Jon Corzine to testify next week after he failed to respond to an informal request.

Lawmakers on the House Agriculture Committee want to ask Corzine, also a former senator, about his role as chief executive of brokerage firm MF Global, which collapsed this fall after a disastrous bet on European debt.

Congressional historians and Capitol Hill insiders can't recall another time when Congressmen summoned one their former peers to testify about a matter under federal investigation.

Regulators are looking into whether MF Global used money from customers' accounts for its own purposes. 

Corzine has also been asked to testify later this month before two other Congressional panels.

Representatives for Corzine didn't immediately return telephone calls seeking comment.

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