Investors harmed by financial shenanigans at mortgage lender Fannie Mae will collectively receive a whopping payout of $356 million, thanks to the Securities and Exchange Commission.
The SEC said it would begin sending out checks to individual investors, pension funds and other victims who invested in the Federal National Mortgage Association between 1998 and 2004. The money will come from the Fair Fund, which the SEC set up in the wake of the Sarbanes-Oxley Act to distribute settlement money to harmed investors instead of to the U.S. Treasury.
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