Former Gov. Jon Corzine goes before a second congressional committee today after testifying last week he had no idea where to find $1.2 billion that went missing as his investment firm, MF Global, collapsed in October.
Corzine, the former chief executive of MF Global, resigned at the request of the firm’s board of directors after a heavy bet on European sovereign debt helped spark a margin call and stock collapse that ultimately ended in bankruptcy on Halloween.
Corzine told the House Agriculture Committee last week he never intentionally told anyone at the firm to take money out of segregated accounts in the firm’s futures brokerage, some of which were used by farmers and cooperatives to hedge volatility.
Today, Corzine has been subpoenaed to appear before the Senate Agriculture Committee, and on Thursday he’s due before the investigations subcommittee of the House Financial Services Committee.
Also appearing at today’s hearing are a grain elevator operator in Michigan, a farmer from Minnesota and a co-op board chairman from Kansas.
Corzine will appear alongside Henri Steenkamp, the Chief Financial Officer of MF Global; and Bradley Abelow, the president and chief operating officer. Abelow was New Jersey state treasurer when Corzine was governor.
