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Freddie Mac reaches $50 million settlement with SEC

Agreement closes final investigation of accounting scandal
Published on Sep 28, 2007

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by CareyBot

Calling it another milestone in putting an accounting and management scandal behind it, mortgage repurchaser Freddie Mac said Thursday it had reached a $50 million settlement with government regulators over the company's restatement of three years of earnings.

In the settlement with the Securities and Exchange Commission, Freddie Mac neither admitted nor denied allegations that the company violated federal securities law by deceiving investors about ups and downs in the company's earnings.

The SEC's