On June 3, a New York state jury acquitted a national bank of grand larceny and conspiracy charges. Following a two and a half year investigation, the Manhattan District Attorney indicted the bank and eleven former employees on charges of conspiracy, grand larceny, residential mortgage fraud and securities fraud, among other charges. The investigation allegedly revealed that the bank sold hundreds of millions of dollars in fraudulent mortgage loans to Fannie Mae. Between May 2005 and February 2010, bank employees allegedly falsified residential unqualified borrowers’ mortgage documents and coached borrowers to falsify income in order to earn commissions and fees on those loans. Several former employees confessed to the allegations and entered plea agreements. The jury did not reach a decision on the mortgage fraud charge against the bank.