Ex-Fannie Mae CEO's Fraud Trial Gets 2015 Start Date

Law360, New York (October 10, 2012, 7:34 PM EDT) -- A U.S. Securities and Exchange Commission fraud case against former Fannie Mae CEO Daniel Mudd will not go to trial until 2015, eight years after the subprime crisis, a New York federal judge said Wednesday.

U.S. District Judge Paul A. Crotty laid out a timetable that calls for the SEC to begin a possible trial against Mudd and two other Fannie Mae executives in about three years, almost a decade after the lender was forced into government conservatorship after being hammered by subprime-related losses.

“This is...
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