Sec, Fraud | featured news

The Securities and Exchange Commission has brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bust....

Tighter budgets at the U.S. Securities and Exchange Commission could mean killing vital technology upgrades needed to catch swindlers, the agency's chief said on Friday in a blunt appeal for more funding.

More than 260 firms warned the SEC in a letter that plans to pay bounties will undermine internal compliance programs and turn financial fraud into a "gold mine" for employees.

The Securities and Exchange Commission on Monday accused a New York firm that helped manage complex mortgage securities of defrauding investors as the housing market collapsed.

In a civil suit filed Friday, the S.E.C. accused the investment bank of securities fraud over a deal in which Goldman profited from bets against products it sold to customers.

The former chief, Angelo R. Mozilo, is the highest-profile person to face charges in the wake of the financial crisis.

SEC says Texas banker swindled billions selling CDs with improbable interest rates.