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Latest
Special> Coping With the Global Financial Crisis> Latest
UPDATED: April 23, 2009
U.S. Mortgage Giant Company's Senior Official Found Dead: Police
According to police, David Kellermann, the Freddie Mac's acting chief financial officer and senior vice president, was found hanging himself at the basement of his house
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A senior official of the U.S. mortgage giant company was found dead as a result of an apparent suicide incident, said police on Wednesday.

Fairfax County Police control access to the home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, in Vienna, Virginia, April 22, 2009. Kellermann, acting chief financial officer of troubled U.S. mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home after apparently committing suicide, a local police source said.

Fairfax County Police control access to the home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, in Vienna, Virginia, April 22, 2009. Kellermann, acting chief financial officer of troubled U.S. mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home after apparently committing suicide, a local police source said. (Xinhua/Reuters Photo)

According to police, David Kellermann, the Freddie Mac's acting chief financial officer and senior vice president, was found hanging himself at the basement of his house in Vienna, Virginia, early in the morning.

Police said that they arrived at the scene after receiving an alert from Kellermann's wife, Donna, but did not provide more details.

David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, is pictured in this undated photograph, released on April 22, 2009.

David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, is pictured in this undated photograph, released on April 22, 2009.
(Xinhua/AFP Photo)

The incident was considered as another blow to the company that owns or guarantees about 13 million mortgages but lost more than 50 billion U.S. dollars last year.

The 41-year-old man was appointed to the post in September last year after the Treasury Department took over the company and its sibling Frannie Mae, both of which were criticized for financing risky loans that led to lots of foreclosure.

Fairfax County Police stand on the front step of the home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, in Vienna, Virginia, April 22, 2009. Kellermann, acting chief financial officer of troubled U.S. mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home after apparently committing suicide, a local police source said.

Fairfax County Police stand on the front step of the home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, in Vienna, Virginia, April 22, 2009. Kellermann, acting chief financial officer of troubled U.S. mortgage giant Freddie Mac, was found dead on Wednesday in his suburban Virginia home after apparently committing suicide, a local police source said. (Xinhua/Reuters Photo)

Quoted by U.S. local media, neighbors said that Kellermann, who worked for Freddie Mac for the past 16 years, lost an amount of weight after he took the new job.

Despite persuasion by neighbors that he should quit his job to release the pressure, Kellermann insisted that he would stay and help the company through its problems.

After Kellermann's death, John Koskinen, the company's interim chief executive, said in a statement that Kellermann is "a man of great talents," and "his extraordinary work ethic and integrity inspired all who worked with him."

Treasury Secretary Timothy Geithner said in a statement "our deepest sympathies are with his family and his colleagues at Freddie Mac during this difficult time."

According to a report from the New York Times, Kellermann had received a bonus of about 800,000 dollars since the government take-over, which, as a part of totaled 210 million dollars for executives at Freddie Mac and Fannie Mae, has prompted scrutiny from lawmakers who have questioned bonuses for executives of firms receiving government bailouts.

(Xinhua News Agency April 23, 2009)



 
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