Fannie Mae settles fraud complaint, $400m payment

  • 26 May 2006

The Federal National Mortgage Association (Fannie Mae) agreed this week to pay a $400m fine to settle charges of accounting fraud.

The Securities and Exchange Commission had accused Fannie Mae executives of manipulating earnings figures between 1998 and 2004 to meet forecasts, thereby "maximising bonuses" they were paid, the ...

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