Two former executives of a now-defunct New York mortgage lender were on Thursday charged by US officials with fraud in schemes directed at Fannie Mae, the government-sponsored mortgage financier, and Credit Suisse First Boston.

In an indictment filed on Thursday, prosecutors alleged that Leib Pinter, a former officer of Olympia Mortgage, which was based in Brooklyn, defrauded Fannie Mae of more than $44m by keeping money intended to pay off refinanced mortgages. Barry Goldstein, also formerly of Olympia, was accused of directing the creation of “dummy” loan histories for mortgage loans sold to Credit Suisse.