{"id":195,"date":"2006-05-23T15:54:38","date_gmt":"2006-05-23T20:54:38","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/?p=195"},"modified":"2008-02-03T23:28:07","modified_gmt":"2008-02-04T05:28:07","slug":"fannie-mae-settles-for-400-million","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/fannie-mae-settles-for-400-million\/","title":{"rendered":"Fannie Mae settles for $400 million"},"content":{"rendered":"<p>A report issued today from the [tag]Office of Federal Housing Enterprise Oversight[\/tag], or [tag]Ofheo[\/tag],  said that [tag]Fannie Mae[\/tag]&#8217;s  [\/tag]quarterly earnings[\/tag] were manipulated  and the company engaged in [tag]improper accounting[\/tag]. The report further stated that management was allowed to disregard [tag]accounting regulations[\/tag] as long as [tag]earnings targets[\/tag] were achieved, and that bonuses were awarded to those who hit targets.<\/p>\n<p>Fannie Mae agreed to pay a $400 million fine to settle  investigations by Ofheo and the [tag]Securities and Exchange Commission[\/tag]. $350 million will be paid to the [tag]SEC[\/tag] as a [tag]civil penalty[\/tag] and will be distributed to shareholders.  $50 million will go to Ofheo, and ultimately to the U.S. Treasury.  Fannie Mae does not admit to any wrongdoing under the settlement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report issued today from the [tag]Office of Federal Housing Enterprise Oversight[\/tag], or [tag]Ofheo[\/tag], said that [tag]Fannie Mae[\/tag]&#8217;s [\/tag]quarterly earnings[\/tag] were manipulated and the company engaged in [tag]improper accounting[\/tag]. The report further stated that management was allowed to disregard [tag]accounting [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[16],"tags":[],"class_list":["post-195","post","type-post","status-publish","format-standard","hentry","category-auditing-regulations"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-39","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=195"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/195\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}