WASHINGTON, March 22 (UPI) -- The ex-chairman of the Federal Housing Finance Board has agreed to plead guilty to making false statements to Congress, the Justice Department said Tuesday.
John Korsmo also reportedly agreed to plead guilty to making false statements to an inspector general's office looking into Korsmo's participation in a GOP congressional fundraising event in October 2002.
Korsmo, of Washington, D.C., was appointed to the finance board in 2002 and named chairman by President George W. Bush later that year.
The Federal Housing Finance Board is an independent regulatory agency that regulates the 12 Federal Home Loan Banks that help supply funds to lenders for financing home mortgage loans. Korsmo resigned from the Finance Board last year.
He at first told a congressional inquiry he did not know how invitations to the fundraising event, in which he was a "special guest," were sent to banking officials he regulated as finance board chairman.
In a plea agreement, he admitted campaign officials received information on the bankers from Korsmo's wife, who was helping organize the event.