SEC: Fannie & Freddie Mortgage Fraud |
Friday, 16 December 2011 |
SEC sues former top execs at Fannie, Freddie
Six former top executives of housing finance giants Fannie Mae and Freddie Mac were accused of securities fraud Friday by federal regulators for allegedly misleading investors about the size of the companies' risky subprime mortgage holdings. Among those in the SEC's civil action were former Fannie Mae Chief Executive Daniel H. Mudd and former Freddie Mac Chief Executive and Chairman Richard F. Syron. They are two of the highest-ranking figures to face charges in the wake of the financial crisis.
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