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Ex-Fannie Chief Faces SEC Probe
The Securities and Exchange Commission has issued a Wells notice against Daniel Mudd, the former CEO of Fannie Mae.
The Securities and Exchange Commission has issued a Wells notice against Daniel Mudd, the former CEO of Fannie Mae,金融时报》reports. The regulator is planning to accuse him of failing to fully disclose to investors Fannie’s exposure to subprime mortgages and Alt-a loans.
Other ex-Fannie executives have also received Wells notices, while the SEC has also accused Freddie Mac of similar accounting irregularities. Mudd was terminated as CEO of Fannie after the U.S. government took over Fannie and Freddie in 2008.
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