Defendant Name: Federal National Mortgage Association

Defendant Type: Public Company
SIC Code: 6111
CUSIP: 31358610

Document Reference: comp19710

Document Details

Legal Case Name SEC v. Federal National Mortgage Association
Document Name Complaint
Document Date 23-May-2006
Document Format Civil Proceeding
Case Number 06-cv-00959
Federal District Court District of Columbia, District of Columbia
Federal District Judge Reggie B. Walton
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission stated: "The Federal National Mortgage Association ("Fannie Mae," or the "Company") engaged in a financial fraud involving multiple violations of Generally Accepted Accounting Principles ("GAAP") in connection with the preparation of its annual and quarterly financial statements."

Related Documents:

LR-19710 23-May-2006 Litigation Release
Fannie Mae to Pay $400 Million Penalty for Accounting Fraud - SEC and OFHEO Settle Action Against Fannie Mae
The Commission stated that: "[It] filed a settled enforcement proceeding charging the Federal National Mortgage Association ("Fannie Mae"), a shareholder-owned government-sponsored enterprise, with fraudulent accounting in violation of the anti-fraud, books and records, internal controls and reporting provisions of the Securities Exchange Act of 1934 (the "Exchange Act") and the anti-fraud provisions of the Securities Act of 1933 (the "Securities Act")."
court_doc4_06-cv-00959 09-Aug-2006 Court Docket Document
Final Judgement as to Defendant Federal National Mortgage Association
The Court stated: "Defendant Federal National Mortgage Association . . . consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."
2007-219 19-Oct-2007 Press Release--Civil Action
SEC Distributes $356 Million to Defrauded Fannie Mae Investors - Investor Protection Agency's "Fair Funds" Distributions to Fraud Victims Top $3 Billion Mark
The SEC "announced that checks totaling more than $356 million are going in today's mail to investors harmed by the financial fraud at Fannie Mae (Federal National Mortgage Association) between 1998 and 2004. With today's payments, the SEC has distributed more than $3 billion overall since the agency was given authority to send financial penalties from SEC enforcement actions to the victims of financial fraud."