Fannie Fires 100+ For Fraud

[Tom D]

It's nice to throw rocks at somebody else in our business, for a change. Gives us a chance to heal for the next stoning afforded us.

 

[Essexfenwick]

It's nice to throw rocks at somebody else in our business, for a change. Gives us a chance to heal for the next stoning afforded us.

The hunters are now the hunted

 

[sputnam]

so they committed fraud and they are not being criminally prosecuted...

The posted headline says "Unethical Conduct". That may be illegal or it might not.

 

[djd09]

wait until they discover the waiver fraud...

 

[NC Appraising]

They need to be privatised and run by Black Rock.

Satanrock or serfdom rock got caught up in that dei and esg bullshet.

. These private equity firms needs to be reined in. I'm a capitalist, but this crap is getting out of control. To big to fail.

Replace blackrock with government

Hayek "[warns] of the danger of tyranny that inevitably results from government control of economic decision-making through central planning."<a href="https://en.m.wikipedia.org/wiki/The_Road_to_Serfdom#cite_note-1"><span>[</span>1<span>]</span></a> He further argues that the abandonment of individualism and classical liberalism inevitably leads to a loss of freedom, the creation of an oppressive society, the tyranny of a dictator, and the serfdom of the

Not even a American company

https://www.prnewswire.com/ae/news-...rty-and-appraisal-services-LLC-301471355.html

Arcapita Acquires Nationwide Property and Appraisal Services

Nationwide is a leading US real estate appraisal management company with a large vendor network covering 50 states and a diversified base of clients, including...

www.arcapita.com

As Wall Street Chases Profits, Fire Departments Have Paid the Price

Fire engine manufacturing is now largely controlled by three companies. Around the country, prices have soared, and orders can take years to fulfill.

www.nytimes.com

 

[Bobby Bucks]

This "Fannie Fraud" must be fake news, I haven't seen anything about it in the daily industry spam emails from the Vegas gang, ie. CE providers, AMC royalty and carnival trinket sellers. I'll give therm the benefit of the doubt, I'm sure they're waiting for arrests to be made and the major actors to be frog marched into dark SUVs to be whisked away and waterboarded.

 

[Mark K]

The posted headline says "Unethical Conduct". That may be illegal or it might not.

Unethical conduct is illegal for appraisers; it should also be illegal for those that write our rules and 'police' us. I'm sure its not but it should be.

 

[ucbruin]

Agreed....

Under the current administration....
You do see the irony....
Ethics is overrated and a sign of weakness....

 

[TerryRohrer]

These folks apparently have ties to India; some were employees of FNMA and Apple while simultaneously running the non-profits engaged in bilking the companies' grant matching programs. An employee would donate to the non-profit and FNMA/Apple would match the grant. Then the employee got their contribution back under the table. Some were beginning to demand a cut of the company grants as payment for facilitating the fraud.

"Many of them allegedly colluded with non-profit organisations, reportedly including the Telugu Association of North America (TANA), to submit fraudulent claims for donation matches.

According to reports in the local media and Telugu websites, those who sacked included a regional vice president of TANA and the spouse of a former president of the American Telugu Association, with investigations reportedly hinting at the involvement of more non-profit groups other than TANA in the scam.

This is not the first instance of TANA being in the spotlight. In December, reports from the US said a court in California had issued a subpoena to TANA, asking for records of its financial transactions from 2019 to 2024.

Cupertino major Apple too had sacked over 100 employees, many of them Telugus, in connection with similar cases of exploitation of grant matching programmes."

Fannie Mae layoffs hit Telugu expatriates in US hard; several jobless after non-profit organisations come under scanner

While Fannie Mae sacked about 700 employees in the last two days, about 200 of them, including several Telugus, were said to have lost their jobs due to alleged ethical violations in connection with misuse of corporate grant programmes.

telanganatoday.com

 

[Sadie]

The posted headline says "Unethical Conduct". That may be illegal or it might not.

And in this administraton who knows what is considered unethical. But also think about how many employees Fannie has (8100). So really not that many. But I bet ole Elon or some other Trump flunkie will find some more.