Industry News

Investigation into Oxley’s ties to Freddie Mac scandal urged

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A nonpartisan watchdog group has asked the U.S. Department of Justice to investigate what it calls a series of potential violations of federal criminal law by Rep. Michael Oxley, R-Ohio, relating to alleged illegal fundraising activities by Freddie Mac. The Campaign Legal Center (CLC) asked the Justice Department to look into Rep. Oxley's involvement in a fundraising scandal involving Freddie Mac. Freddie Mac recently paid a $3.8 million fine to settle a complaint that it illegally used corporate treasury funds to sponsor fundraisers that raised nearly $3 million dollars for members of Congress. "The vast majority of the 85 fundraising events benefited Chairman Oxley at a time when legislation was pending before his committee that was opposed by Freddie Mac," the CLC said. The legislation never made it to Chairman Oxley's full committee, despite the support of the subcommittee chairman for the legislation, according to the CLC. A spokesman for Oxley did not return a message asking for...