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House Panel Votes To Subpoena Corzine On MF Global

 

A congressional panel has voted to subpoena former Sen. Jon Corzine to compel him to testify at a hearing next week about his role leading the investment firm MF Global, which collapsed after a disastrous bet on European debt.

MF Global
Mario Tama, Getty Images

The House Agriculture Committee voted Friday to issue the subpoena. Committee Chairman Rep. Frank Lucas, R-Okla., said Corzine hadn’t yet confirmed that he would come and “his testimony is essential to fulfill our objectives.”

It woulkd be a rare appearance by a former member of Congress asked to testify under oath about a matter under federal investigation in which he was involved.

Regulators are investigating whether MF Global used money from customers’ accounts for its own purposes as its financial condition worsened.

An estimated $1.2 billion or more may be missing from customer accounts.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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