Feds charge former Fannie Mae execs with manipulating earnings

Government regulators said Monday they will seek more than $100 million in civil penalties from three former Fannie Mae executives accused of submitting six years of inaccurate accounting reports, and the return of more than $115 million in bonuses.

The Office of Federal Housing Enterprise Oversight filed 101 charges against former Fannie Mae Chairman and Chief Executive Officer Franklin Raines, former Chief Financial Officer J. Timothy Howard, and former controller Leanne G. Spencer.

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