Nama   : Novilia Anggie
NPM   : 1812120063
 
Freddie Mac Scandal (2003)
The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, is a US federally-backed mortgage financing giant based out of Fairfax County, Virginia. In 2003, it was discovered that Freddie Mac had misstated over $5 billion in earnings. COO David Glenn, CEO Leland Brendsel, former CFO Vaughn Clarke, and former Senior Vice Presidents Robert Dean and Nazir Dossani had intentionally overstated earnings in the companyΓÇÖs books. The scandal came to light due to an SEC investigation into Freddie MacΓÇÖs accounting practices. Glenn, Clarke, and Brendsel were all fired and the company was fined $125 million.
Respond:
In my view, this Freddie Mac fraud case involved their accountants. This because finanacial report made by accountant, and the accountant was not professional caused they did this fraud. But maybe thereΓÇÖs another reason that made that accountant do something bad like: threat from boss. So fire all of accountants were not best optios, in my view. And fire their boss were perfect. Cause it was lie if they donΓÇÖt know about the fraud.