Federal Grand Jury Investigating Accounting and Disclosure Issues at Freddie Mac and Fannie Mae

Fannie Mae and Freddie Mac stated on Monday that a federal grand jury is investigating accounting and disclosure issues at the companies. Both companies acknowledged receiving subpoenas on Friday from the U.S. Attorney’s office in Manhattan, as well as requests from the SEC that they preserve documents, according to the AP.

The AP reports that the grand jury investigation concerns accounting, disclosure and corporate governance matters.  Freddie Mac stated that investigation focuses on activities starting in 2007.

Read the AP article