Freddie Mac’s acting finance chief found dead

The beleaguered US mortgage giant Freddie Mac suffered another blow today when it was announced that its acting chief financial officer, David Kellermann, had been found dead at his home in North Virginia, apparently having committed suicide.

Kellermann, 41, was appointed CFO last September when the US government stepped in to keep Freddie Mac from failing. The company was at the centre of the subprime scandal that set off the economic crisis. It lost $50bn last year, despite billions in federal aid.

Recently, both Freddie Mac and its sister outfit Fannie Mae - which between them underwrite more than half of all American mortgages - have been criticised in Congress for planning to pay a total of more than $200m in staff bonuses, despite their dependence on taxpayers' dollars to bail them out.  

Kellermann's death follows the resignation last month of Freddie Mac's chief executive officer David Moffett after only six months in the job.

Police were called to Kellermann's home in Hunter Mill Estates by his wife, soon after 5am local time. Local media reported that she found him hanged in the basement. Most senior executives at the company's headquarters in McLean, Virginia had heard the news by the time they arrived at work today.

Kellermann had been at Freddie Mac for 16 years, starting as an analyst. His responsibilities as CFO included financial reporting and tax, as well as overseeing the company's annual budget. ·