Former Fannie Mae CEO Resigns From Hedge Fund Post

Posted by Orb Staff on January 25, 2012 No Comments
Categories : Residential Mortgage

10792_danielmudd Former Fannie Mae CEO Resigns From Hedge Fund Post Daniel Mudd has resigned as CEO and director of the New York-based hedge fund Fortress Investment Group LLC in order to focus on a federal government lawsuit relating to his former work as CEO of Fannie Mae.

A press statement issued by Fortress Investment Group made no mention of the U.S. Securities and Exchange Commission (SEC) lawsuit filed last month, which charged Mudd and several former Fannie Mae and Freddie Mac executives with securities fraud. Mudd had taken a leave of absence from the hedge fund one week after the SEC lawsuit was announced.

‘I do not want the uncertainty associated with a leave of absence, on my part, to become a distraction for either Fortress or its investors, and thus, I have decided to resign,’ Mudd said in the company's statement.

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