Fannie Mae Layoffs: 200 Indian-Americans, many linked to Telugu groups, fired on ‘ethical grounds’ after donation scam

Fannie Mae Layoffs: 200 Indian-Americans, many linked to Telugu groups, fired on ‘ethical grounds’ after donation scam

Fannie Mae Layoffs: As many as 200 Indian-Americans, a majority of them linked to Telugu groups, were fired by the Federal National Mortgage Association over an alleged involvement in a donation scam.

US giant Fannie Mae fires 200, mostly Telugus, over salary fraud: Report

US mortgage giant, Fannie Mae, has laid off 200 employees, mostly Telugus, over salary fraud, according to a report. The employees allegedly misused the company's matching gift programme by collaborating with Telugu associations. An Indian-American Congressman has sought the company's response on the mass lay-offs.

Indian-American lawmakers demand probe into mass firing of Telugu employees by Fannie Mae

In a major development impacting the Indian-American community, three Indian-American lawmakers have raised concerns over the mass termination of Telugu-origin employees at Fannie Mae, a prominent American mortgage financing giant. The company recently sacked nearly 200 staffers, the majority of whom were Telugu-speaking professionals, over alleged involvement in a salary scam. The lawmakers are demanding a detailed explanation and a fair invest…

200 Workers are Fired by US Mortgage Giant Fannie Mae, Primarily Associated with Telugu Groups

As part of a reorganisation process, the American mortgage company Fannie Mae laid off 700 workers. Of these, 200 were primarily Telugu-born and were sacked on "ethical grounds" due to financial irregularities. Allegedly, at least 200 Indian-American workers were let go for working with Telugu groups to misuse Fannie Mae's matching grants programme. One Indian-American congressman has asked the firm for a statement in the wake of the widespread …

Mostly Telugus among 200 employees fired by US giant Fannie Mae over alleged donation scam

Washington: American mortgage giant Fannie Mae fired around 200 employees, most of them Telugu-speaking Indian-Americans, over what the company called “ethical violations.” The action is part of a larger layoff where 700 employees were let go in total. The dismissals, which took place on April 9 and 10, caught the attention of US lawmakers, with an Indian-American Congressman seeking an explanation. Fannie Mae, officially known as Federal Nation…

Three Indian American lawmakers ask Fannie Mae to explain mass firings

Three Indian Congressmen led by Suhas Subramanyam have sought an explanation from mortgage giant Fannie Mae for mass firings of dozens of predominantly Indian American employees for alleged unethical conduct, including facilitating fraud. Subramanyam last week sent a letter to William Pulte, Director of the Federal Housing Finance Agency, and Priscilla Almodovar, President and Chief Executive of Fannie Mae, demanding answers and evidence, accord…