Source Pravda.Ru

Fannie Mae former executives settle Ofheo's charges

The former chairman and chief executive officer of Fannie Mae decided to pay $24.7 million to settle the case of misstated earnings at the government sponsored enterprise and his role in it.

Former Chief Financial Officer Timothy Howard will pay $6.4 million in compensation and former Washington-based company's controller Leanne Spencer will be fined for $275,000.

Raines agreed to make a settlement but still denied the allegations made against him.

The Office of Federal Housing Enterprise Oversight started the fighting against the Fannie Mae‘s executives more than a year ago. The agency tried to find the responsible for $6.3 billion in misstatements from 2001 to mid-2004 at the Federal National Mortgage Association.

Ofheo filed suits against Raines, Howard and Spencer in December 2006 for more than $215 million on suspicion of accounting manipulation in order to meet profit and bonus targets.


He announced his intention to create a news service called "Pravda," which means "truth" in Russian. Well, we are Pravda. The Pravda.Ru website has been working professionally in Russia since 1999

Elon Musk wants Pravda, but we already have it

The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

Blame MH17 on Russia: International investigation turns into demonic circus

On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part

World leaders unite with Russia at St. Petersburg International Economic Forum