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Sep 27, 2007 · The SEC’s complaint alleges that Freddie Mac engaged in a fraudulent scheme that deceived investors about its true performance, profitability, and growth trends. According to the complaint, Freddie Mac misreported its net income in 2000, 2001 and 2002 by 30.5 percent, 23.9 percent and 42.9 percent, respectively.
- Litigation Release No. 20304
The SEC's Complaint alleges that Freddie Mac engaged in a...
- Litigation Release No. 20304
An accounting scandal erupted at Freddie Mac in June 2003 when it disclosed that it had misstated earnings by some $5 billion _ mostly underreporting them _ for 2000-2002 to smooth quarterly ...
THE SCANDAL IN HOME MORTGAGE FINANCING: A LOOK AT FREDDIE MAC. by Mafruza Khan. In December 2003 Freddie Mac, the federally chartered mortgage financing giant, agreed to pay a civil penalty of $125 million and implement measures to correct its accounting and governance problems as part of a consent order with a federal regulator. The company is ...
Jan 24, 2012 · Freddie has repaid $14.9 billion, while Fannie paid $17.2 billion. Seiberg said that the bailout might have been avoided, or been relatively minor, if Fannie and Freddie had stayed away from the ...
Sep 28, 2007 · Four former Freddie Mac executives settled the SEC's negligent conduct charges by agreeing to pay a total of $515,000 in civil fines and to make restitution totaling $275,548.
Dec 16, 2011 · "Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was," said Robert Khuzami, Director of the SEC's Enforcement Division. "These material misstatements occurred during a time of acute investor interest in financial institutions' exposure to subprime loans, and misled the market about the amount of risk on the company's books.
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Richard F. Syron, Patricia L. Cook, and Donald J. Bisenius, Civ. Action No. 11-cv-9201-RJS (S.D.N.Y.), the Freddie Mac Fair Fund also contains $310,000.00 in funds pursuant to a Court order in the Syron case dated April 14, 2015. On December 28, 2016, the Court issued an Order approving the Distribution Plan for the Freddie Mac Fair Fund.
