- The Washington Times - Saturday, April 25, 2009

Mortgage finance company Freddie Mac, coping with the apparent suicide of its acting chief financial officer, said Friday its former chief executive is coming back temporarily to help oversee the company’s finances.

David Moffett, the former government-appointed CEO who resigned from Freddie Mac in March, will return as a consultant to the company’s interim CEO John A. Koskinen, aiding him to produce financial statements.

Mr. Moffett said he would “be happy to help them in any way.”

David Kellermann, the company’s acting chief financial officer, was found dead Wednesday in the basement of his home. Mr. Kellermann, 41, was promoted in September when the government seized Freddie Mac and ousted its top executives.

Mr. Koskinen said he was “grateful to [Mr. Moffett] for offering to assist us during this challenging time,” and that Freddie Mac will continue looking for a permanent CFO.

Mr. Kellermann’s death came after he met on Tuesday with Mr. Koskinen and Freddie Mac’s chief human resources officer, who had noted that he seemed under stress and suggested he take time off, according to a person close to the company who spoke on the condition of anonymity because of the sensitive nature of the events.

During the conversation, Mr. Kellermann briefly mentioned the possibility of leaving Freddie Mac but did not submit his resignation, the person said.

As acting CFO, Mr. Kellermann oversaw a staff of about 500 at Freddie Mac’s headquarters in McLean and had been working on the company’s first-quarter financial report, due by the end of May.

He also had been embroiled recently in a dispute between Freddie and the Securities and Exchange Commission over its financial reports, according to a law enforcement official who spoke on the condition of anonymity because the person was not authorized to discuss the case.

Freddie Mac also is the subject of a criminal probe by federal prosecutors in Virginia, though there are no indications that Mr. Kellermann was considered a target.

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