25 Jul 2008 06:13 am
Federal Grand Jury Investigating Subprime Lenders
A federal grand jury is investigating subprime mortgage lenders Countrywide Financial Corp., New Century Financial Corp. and IndyMac Federal Bank, a person familiar with the situation told The Associated Press on Thursday.
Subpoenas seeking documents have been issued to all three companies, according to the person, who was not authorized to speak publicly about the case and requested anonymity.
The subpoenas are seeking e-mails, phone bills, financial records and other information, according to the Los Angeles Times, which cited people with direct knowledge of the subpoenas in first reporting the investigation was under way.
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