Corzine Revisits Congress In Uncomfortable Role - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

Corzine Revisits Congress In Uncomfortable Role

WASHINGTON (AP) - After once walking proudly in Congress as a U.S. senator, Jon Corzine returns to Capitol Hill today in a humbled and humiliating role: a star witness likely to invoke the Fifth Amendment.

Corzine has been subpoenaed to explain how MF Global collapsed into the eighth-largest bankruptcy in U.S. history and why an estimated $1.2 billion in client money is missing.

It's the first time in more than 100 years that Congress has subpoenaed a former senator to testify, according to Senate historian Don Ritchie.

The former New Jersey senator and governor may offer a statement at the House Agriculture Committee hearing. But he'll likely decline to answer potentially damaging questions by invoking his Fifth Amendment right against self-incrimination. Otherwise, anything he might say could be used against him in a courtroom, should there ever be criminal charges.

Powered by Frankly