A Federal judge has ordered former Freddie Mac chairman and chief executive Leland Brendsel to testify before the Office of Federal Housing Enterprise Oversight, which continues to probe the mortgage giant's $5 billion accounting scandal.Last fall the agency subpoenaed Mr. Brendsel's testimony, but his attorneys argued that it was not needed because the agency has already completed its report on the accounting scandal. Even though OFHEO has completed the bulk of the investigative work, it is continuing to look at certain aspects of the scandal, including Wall Street's role in some of the derivative transactions that shifted income to future years. Mr. Brendsel is expected to appeal the judge's ruling, which came late on Monday. His attorney declined to comment.
