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Sunday
Mar132011

SEC Investigating Former Fannie Mae CEO

Mark Wilson/Getty Images(NEW YORK) -- The former chief executive of Fannie Mae announced that he is being investigated by the Securities and Exchange Commission after receiving a Wells Notice - notification of impending charges.

Daniel Mudd, who ran Fannie Mae from 2004 to 2008, when the government took control of the mortgage giant, could be charged with misleading investors on subprime mortgages.

Since his dismissal, Mudd has served as CEO of the New York-based hedge fund Fortress Investment Group.

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