The incident occurred in 2013 and was only revealed recently when the Department of Justice issued a news release about the case. The employee was charged with one count of destruction of records and one count of false statements to a federal agency.
The story began when the employee, identified as “R.H.”, was employed at Fannie Mae in the Financial Services department. In 2013, he was asked to provide data to the Department of Housing and Urban Development (HUD) as part of its investigation into the mortgage giant. Instead of complying with this request, R.H. allegedly attempted to delete or destroy all the data that was being requested.
After being confronted by Fannie Mae’s security team, R.H. allegedly tried to cover up his attempted data destruction by making false statements to a federal agency. He was then ultimately charged by the Department of Justice with one count of destruction of records and one count of false statements to a federal agency.
The news release from the Department of Justice also stated that R.H. may face up to 20 years in prison and a fine of up to $500,000 if convicted on both counts. The charges against R.H. are being taken seriously because of the risk posed by individuals attempting to manipulate or destroy data in order to impede investigations or other legitimate business activities.
This case highlights the importance of strong security protocols in order to protect a company's data. Companies must ensure that employees are aware of the rules and regulations regarding data management and that there are consequences for any violations. Furthermore, companies should also utilize data backup protocols so that any lost or destroyed data can be restored quickly and easily.
In summary, this article discusses the serious case of a former Fannie Mae employee who attempted to destroy data requested by HUD in 2013. The employee was ultimately charged by the Department of Justice with one count of destruction of records and one count of false statements to a federal agency. If convicted, the employee could face up to 20 years in prison and a fine of up to $500,000. This case is significant as it illustrates the need for strong security protocols and data backup systems to ensure data integrity and safekeeping. In addition, it serves as an example of the consequences that can come from disregarding the regulations around data management.
This article was contributed on Nov 10, 2023