Freddie Mac CFO David Kellerman Found Dead in Apparent Suicide

Michael Santo's picture

David Kellermann, 41, the acting CFO of the troubled Freddie Mac mortgage company, was found dead of an apparent suicide this morning in the basement of his Fairfax County home.

David Kellermann was a longtime Freddie Mac executive who joined the firm as an analyst in 1992. He was named acting chief financial officer in September 2008.

David Kellerman's wife found his body and called police; a call came in, according to Fairfax County police, at 4:48 AM EDT.

Freddie Mac and sister company Fannie Mae, made risky mortgage related investments that became toxic. The two firms have received nearly $60 billion in government bailout funds.

According to his biographical information on Freddie Macs website, as acting chief financial officer, David Kellermann "is responsible for the company's financial controls, financial reporting, tax, capital oversight, and compliance with the requirements of Sarbanes-Oxley. He also oversees the company's annual budgeting and financial planning processes."

The question remains, why? Could it be that David Kellerman felt responsible for some of the meltdown affection Americans in the economic recession? Or was it the pressure of trying to bring Freddie Mac back to health?

Prior to his CFO position, David Kellerman's roles were "senior vice president, corporate controller and principal accounting officer. In this position, his primary responsibility was to support the business with the production of timely, accurate, and well-controlled GAAP, fair value and segment earnings financial statements and external disclosures."

At this point no suicide note has been confirmed, and the manner of death has not been reported.

Freddie Mac has been constantly in the news since the beginning of the recession due to the falling mortgage rates, foreclosure crisis and strong refinance activity in recent months.

Comments

Submitted by Anonymous (not verified) on
I think he was probably murdered as attempt to cover up the elected officials part in this mortgage scheme. Maybe I am wrong but I would bet there is more than what the public will ever know.

Submitted by Anonymous (not verified) on
sounds like days of the clinton administration

Submitted by Anonymous (not verified) on
He knew he was a crook,he knew he was going to be caught,he knew he did wrong,it wasn't stress it was plain ole "guilt" got ot him,GOOD !!!!

Submitted by Anonymous (not verified) on
I think theres more behind this suicide,some thing is really wrong at Freddie Mac, they sould look into it.I feel sorry for the family.

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