Bloomberg reports:
Records involving Fannie Mae, the largest source of U.S. home-loan money, were subpoenaed by a federal grand jury as part of a criminal investigation into claims made in a $7 billion civil lawsuit against the company.
“I think much of the materials in our case are relevant to the criminal case,” Mark Lanier, the lawyer representing those who sued the company and whose records were sought, said yesterday in an interview. “This subpoena is the sweet spot in our lawsuit.”
The subpoenas, issued Dec. 8 and filed yesterday in U.S. District Court in Texarkana, Texas, demand records from the Lanier Law Firm’s offices in Houston and New York. Fannie Mae said in a regulatory filing Nov. 10 that it was “cooperating fully in a Department of Justice investigation.”
Owners of government-insured low-income housing sued in 2004, claiming Fannie Mae illegally kept as much as $7 billion earned on escrow accounts. Since almost all records in the case are sealed, the law firm couldn’t turn them over to investigators without a subpoena, Lanier said.
No word yet on this one from MSNBC's David Gregory whose
wife is:
Beth A. Wilkinson is Fannie Mae's executive vice president - general counsel and corporate secretary. She reports directly to the chief executive officer. Wilkinson has oversight and management responsibility for all legal issues, strategies, services and resources. Additionally, she serves as the business-oriented, senior legal advisor to the board of directors, chief executive officer, and members of the senior management team.
Also,no word yet from former Freddie Mac board member:
Rahm Emanuel.
