Former Freddie CFO Loses Appeal and Ex Fannie CEO Settles Case
September 2, 2016
One former GSE executive lost his severance package case and another settled in a long-standing civil fraud lawsuit. Both cases came to a conclusion last week. Anthony Piszel, former chief financial officer at Freddie Mac, appealed a judgment from the U.S. Court of Federal Claims dismissing his complaint that Freddie owed him payment for his “golden parachute” compensation after he was terminated without cause at the start of the conservatorship. The question came down to whether or not a government prohibition on making golden parachute payments to terminated Freddie employees was illegal or not. Piszel was terminated two weeks after...