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Lawmaker wants to pursue Fannie Mae perjury charges
By Times Staff
Published June 15, 2006
WASHINGTON - A senior House lawmaker has asked the Justice Department to investigate whether Fannie Mae's then-chief executive and finance chief lied in congressional testimony in 2004. Rep. Richard Baker, R-La., chairman of the House panel that oversees the government-sponsored mortgage company, said Wednesday that he had made a perjury referral regarding former Fannie Mae chief executive Franklin Raines and former chief financial officer Timothy Howard. The department has been conducting a criminal investigation of Washington-based Fannie Mae, the largest financer and guarantor of home mortgages in the country. The company's $11-billion accounting scandal came to light in September 2004. Federal regulators found serious accounting problems and alleged there was pervasive earnings manipulation and lax internal controls. "It is my belief that Mr. Franklin Raines and Mr. Timothy Howard, while testifying under oath ... on Oct. 6, 2004, failed to testify truthfully, in violation of applicable law," Baker said in a letter dated Tuesday to Kenneth Wainstein, the U.S. attorney for the District of Columbia.
[Last modified June 15, 2006, 06:35:38]
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