Financial Times FT.com

Fannie and Freddie subpoenaed

By Joanna Chung in New York

Published: September 29 2008 21:13 | Last updated: September 30 2008 00:21

Freddie Mac and Fannie Mae, the US mortgage financiers seized by the government, have received subpoenas from federal prosecutors for documents related to accounting and disclosure, the companies said on Monday.

The groups, which came under government control this month after buckling under mounting losses on mortgages and concerns over capital, are under investigation by both the justice department and the Securities and Exchange Commission.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this