Former Fannie Mae and Freddie Mac Executives Charged with Securities Fraud

Former Fannie Mae and Freddie Mac Executives Charged with Securities Fraud

Former Fannie Mae CEO Daniel Mudd (R) and Former Freddie Mac CEO Richard Syron (L) were charged with securities fraud by the Securities and Exchange Commission, alleging they misled investors about sublime mortgages, on December 16, 2011 in lawsuits files in New York. Six Fannie Mae and Freddie Mac executives were charged. They are shown being sworn in prior to testifying before a House Oversight and Government Reform Committee about the roles of Fannie Mae and Freddie Mac in the financial and mortgage crises on Capitol Hill in Washington on December 9, 2008. UPI/Roger Wollenberg/Files