Fannie Mae, a financial company, reportedly released 200 indicated employees from his team, most of which were associated with Telugu groups for “ethical reasons” after fraud, reported intelligence times in India on Wednesday.
Along with 200 people who were released for “ethical reasons”, others were also subject to a reduction in employment. The news portal report claims that a total of 700 employees were fired from their jobs in the ongoing restructuring, this figure includes 200 people who were released for reasons for non -restructure.
The news portal report was also quoted by a company that stated that the dismissal that occurred on Wednesday and Thursday was for “ethical reasons”.
Earlier April 8, 2025, the company acknowledged that it had released more than 100 people for “unethical behavior” that includes fraud facilitating.
“I would like to thank the director of the counter for his authorization of Fannie Mae to chase unethical behavior, including anyone who facilitates fraud. We will hold our employees the highest standards and continue to do it,” said Priscilla Almodovarová, president and CEO of Fannie Mae.
Gift
Reportedly, the company fired these employees before the reported irregularity and abuse of the “program of the corresponding grants” Fannie Mae according to the news portal report.
According to several media reports, this grant is to extend the salaries of the employee and acts as a compensatory gift to what the employee donates within the corresponding gift program.
Employees who were released reportedly cooperated with non -profit organizations such as the Teluga Association in North America (Tana), and falsified gifts to use the program to access corporate resources, according to India Today.
One of the employees who were released was reported, held the position of Vice President in Tano, while another employee was in the former President of the US Association of Telugu (ATA).
People who were aware of the development told the news portal that Tana was not the only non -profit organization involved in this matter, allegedly also investigated other associations.
“I was warned that Fannie Mae had accused hundreds of my voters in the Indian US Community and fired them without doing a complete investigation or provision of evidence,” said the indication-American congressman Suhas Subramanyam 9 April.
He supported employees and asked for a “immediate” explanation of the company and stated that according to the report it deserves a proper process.
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