CFO Suicide Delays Debt Offering

Submitted by Melissa Hoffmann on Wed, 04/22/2009 - 15:19

Mortgage finance company Freddie Mac said today it will postpone an announcement about the pricing of a debt offering because of the sudden death of the company's acting CFO.

The company said yesterday that it would price an offering of five-year notes today, but postponed the pricing upon news of David Kellermann's death.

Kellermann was found dead at his suburban Virginia home this morning in what police said was an apparent suicide. Freddie Mac officials have already announced they don't think he did it because of the ongoing federal investigation into the company's dealings.

Kellermann was reportedly a longtime Freddie Mac executive who joined the firm as an analyst in 1992. He was married with a young daughter, and was named acting CFO last September when the government seized control of the company and ousted top executives.

Police sources told The Washington Post that Kellermann hanged himself and that his wife found his body and called police. They said he did not leave a suicide note.

Related stories can be found here, here and here.

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