SEC sues ex-Freddie Mac and ex-Fannie Mae executives

The Securities and Exchange Commission late on Sunday filed securities fraud charges against six former Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) executives. The SEC court filing showed that executives had claimed that their company’s exposure from 2007 to 2008 was between $2bn and $6bn, when it was […]

 
News

Top 5

  1. Top 5 forces that will shape international finance in 2023
  2. Top 5 female-fronted fintech firms
  3. Top 5 Latin American tech hubs
  4. Top 5 sustainability pioneers in Europe
  5. Top 5 keys to global economic recovery
  6. Top 5 WFH habits, according to the world’s most successful business leaders
  7. Top 5 pandemic-proof industries
  8. Top 5 countries to be world’s next manufacturing hubs
  9. Top 5 most influential and inspirational US economists
  10. Top 5 ways to boost employee engagement and commitment
  11. Top 5 financial services that are ripe for automation
  12. Top 5 ways that GDPR has impacted digital banking
  13. Top 5 emerging fintech hubs across the globe right now
  14. Top 5 ways that the finance industry can prepare for AI
  15. Top 5 economic risk factors that must be considered

The Securities and Exchange Commission late on Sunday filed securities fraud charges against six former Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) executives.

The SEC court filing showed that executives had claimed that their company’s exposure from 2007 to 2008 was between $2bn and $6bn, when it was actually as high as $244bn.

Those alleged of fraud include former Fannie Mae CEO Daniel Mudd, vice president of Single Family Mortgage, Thomas Lund, and chief risk officer Enrico Dallavecchia. The names for Freddie Mac executives include CEO Richard Syron, Vice President Patricia Cook, and Single Family Guarantee Vice President, Donald Bisenius.  

Related:
  1. From tradition to transformation in the luxury market
  2. Tackling the world’s hidden-debt problem
  3. Completing the banking puzzle
  4. Can extreme weather events threaten the rise of solar?
  5. Too much power: the problem of private equity
  6. Navigating cryptocurrency regulations
  7. Unlocking growth in the experience economy
  8. Can immigration fix Canada’s economy?
  9. Unprecedented rain in Dubai raises questions
  10. The next phase of digital banking