Freddie Mac Settles SEC Fraud Charges

From the Associated Press
Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period.

The Securities and Exchange Commission announced the settlement today. McLean-based Freddie Mac neither admitted nor denied wrongdoing in the accord but did agree to refrain from future violations of the securities laws. See the SEC statement.

In addition, four former Freddie Mac executives settled the SEC's negligent conduct charges by agreeing to pay civil fines and to make restitution.

By Mike Shepard  |  September 27, 2007; 2:50 PM ET
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