FBI says 14 mortgage financiers under investigation

The FBI is reportedly investigating possible accounting fraud and insider trading at 14 companies in the financial services, mortgage lending and investment banking industry.

The investigation of the companies, which were not identified, began in the spring of 2007 and is being conducted jointly with the Securities and Exchange Commission, the Associated Press reported. The SEC is believed to be conducting roughly three dozen investigations related to publicly traded companies in the housing and mortgage lending business, AP said.

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