Former Fannie Mae CEO Facing SEC Charges

Posted on January 15, 2012


” Daniel Mudd, the former chief executive officer of Fannie Mae, said on Wednesday that he would take a leave of absence from his current role as CEO of hedge fund Fortress Investment Group LLC.

Mudd, along with former Freddie Mac CEO Richard Syron, was sued by the U.S. Securities and Exchange Commission (SEC) last Friday for allegedly misrepresenting billions of dollars worth of subprime mortgage-based assets held by their firms.

Mudd said in a statement: “I have requested a leave of absence from my position as chief executive officer to ensure that any time or attention I need to focus on matters outside of Fortress will not affect the business or operations of the company.” ”

See full story at NTD television.