Thursday, August 24, 2006

Fannie Mae Says It Will Avoid Prosecution

Fannie Mae, the mortgage finance company, said today it has been informed by the Department of Justice that no charges will be filed in connection with billions of dollars in accounting irregularities.
The company “has been advised by the United State’s Attorney’s Office for the District of Columbia … that it is discontinuing its investigation and does not plan to file charges,” said a statement from Fannie Mae today.

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