Subsequent Career
Mudd for 2-1/2 years to December, 2011, was the CEO of Fortress, a hedge fund in New York City that has among other investments bought tax liens on delinquent property taxes from local governments under 17 different corporate names. Some of the 17 evoke tranquil, bucolic settings, such as Pleasant Valley Capital, LLC and Travis Farm Investments, LLC. In the wake of the FNMA-related charges in 2011, Mudd took a leave of absence "to ensure that any time or attention I need to focus on matters outside of Fortress will not affect the business or operations of the company”. It was not revealed whether it was a paid leave. At the time it was reported he had received a salary of $200,000 and a bonus of $3 million in 2010 and been given restricted stock valued at $24 million when he joined the company. "The SEC said Mudd’s misconduct included knowingly giving false testimony to Congress", a report continued, while Mudd said "the government approved Fannie Mae’s disclosures during his tenure".
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