New York Attorney General Andrew Cuomo has subpoenaed former Merrill Lynch CEO John Thain for his testimony on circumstances surrounding the $4 billion paid in bonuses to Merrill Lynch executives in December, according to sources familiar with the situation.
Meanwhile, CNBC has learned of a purge at BofA of Thain's inner circle. Noel Donohue, Co-Head of Risk, Margaret Tutweiler, Head of Communications and Public Affairs and Mary Lee, Thain's chief of staff have all been let go. Tutweiler was a former spokesperson at the U.S. State Department during the presidency of the first George Bush and was described as particularly close to Thain.