Subpoenaed

The House Agriculture Committee has subpoenaed Jon Corzine, former CEO of MF Global Holdings Ltd. and former governor of New Jersey, to attend a hearing Thursday to explain the events that led up to the company’s Oct. 31 bankruptcy and the disappearance of an estimated $1.2 billion in customer funds.

The Commodity Futures Trading Commission (CFTC) subpoenaed the phone records of New York Mercantile Exchange (Nymex) gas futures traders last week to look for any signs of market manipulation over the last few weeks, but so far the commission’s investigation hasn’t found anything, according to a spokeswoman for Sen. Pete Domenici (R-NM) Chairman of the Senate Energy and Natural Resources Committee, which was briefed last week by CFTC staff.

The Commodity Futures Trading Commission (CFTC) has subpoenaed the phone records of Nymex gas futures traders to look for any signs of collusion or market manipulation over the last few weeks. The investigation apparently is not targeting individuals, but will instead examine the activities in the entire gas futures trading pit over a period of time when gas prices rose sharply.

Duke Energy and Williams confirmed Friday that they received individual subpoenas from the U.S. Attorney’s Office in San Francisco as part of an ongoing federal grand jury investigation of natural gas and electricity suppliers in California. It was unclear how many other merchant energy companies, besides Duke and Williams received the summons Friday. The workings of the grand jury, of course, are secret.