NJ governor candidate to testify before US panel (AP)

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AP - The Republican candidate for governor will tell a congressional subcommittee about white-collar crime settlements he approved as a federal prosecutor, including a deal potentially worth $52 million to his one-time boss, former U.S. Attorney General John Ashcroft.

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Chris Christie is to testify before the House panel in Washington on Thursday, one of seven witnesses being called in an ongoing investigation into deferred prosecution agreements.

The deals allow companies accused of crimes to avoid trials by agreeing pay fines, change their practices and submit to federal oversight. Monitors are paid millions to oversee the deals.

The number of agreements ballooned during George W. Bush's presidency, but fell back last year following increased scrutiny about whether the deferrals provide a break to corporate wrongdoers.

Appearing before the House Judiciary Committee in May, U.S. Attorney General Eric Holder defended the use of deferrals in cases where taking a company to trial would unduly punish shareholders or employees. He said the deals are struck within Justice Department guidelines, and that he would investigate concerns over monitor selection and compensation.

As New Jersey's top federal prosecutor, Christie approved seven such deals, but put deferred prosecutions on the national radar with the one involving Ashcroft.