Source: Corzine Expected to Testify at House Hearing

MoneyNews.com
25 Nov 2011

Former MF Global Chief Executive Jon Corzine is expected to testify at a congressional hearing next month, a committee aide said Friday, tamping down speculation that the former head of the bankrupt brokerage would decline to take part.

The House Financial Services Committee announced earlier this week that Corzine, a former U.S. senator and governor of New Jersey and one-time head of Goldman Sachs , would appear at a Dec. 15 investigations subcommittee hearing.

Corzine’s attorneys, “gave us every indication he was willing to testify under oath,” said the staffer, who was not authorized to comment on the record. “Unless he has a change of heart at the last minute, we expect him to talk and not take the fifth,” he said, referring to the constitutional protection against self-incrimination…

…MF Global filed for bankruptcy on Oct. 31, after $6.3 billion in risky bets on European sovereign debt spooked investors and an effort to sell the firm failed…

Regulators and Justice Department officials have been investigating the firm’s sudden demise and seeking the whereabouts of around $1.2 billion in customer funds…

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