Fannie Mae and Freddie Mac, the ailing US mortgage financiers seized by the government this month, have received subpoenas from federal prosecutors for documents related to accounting and disclosure, the companies said yesterday.

The groups, which came under government control after buckling following mounting losses on mortgages and concerns over capital, have been under investigation by both the US Department of Justice and the US Securities and Exchange Commission.

Regulators are under growing pressure to hold companies and their senior executives responsible for the worst financial crisis since the Great Depression.

Financial Times