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Fannie Mae Says It Won't Be Prosecuted

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Aug 24, 2006 9:58 am US/Eastern

Fannie Mae Says It Won't Be Prosecuted

WASHINGTON (AP) ― Fannie Mae, the government-sponsored mortgage lending giant, said Thursday it has been informed by the U.S. attorney's office here that it will not face criminal charges over accounting irregularities.

The company, which helps finance one of every five home loans in the United States, said it was also told by prosecutors that they were dropping their investigation after two years.

Officials in the U.S. attorney's office could not be reached immediately for comment.

(© 2006 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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