Fannie Mae layoffs hit Telugu expatriates in US hard; several jobless after non-profit organisations come under scanner
While Fannie Mae sacked about 700 employees in the last two days, about 200 of them, including several Telugus, were said to have lost their jobs due to alleged ethical violations in connection with misuse of corporate grant programmes.
Hyderabad: Layoffs over the last few days at US federal mortgage company, Fannie Mae, has once again brought Telugu non-profit organisations in the US under the scanner.
While Fannie Mae sacked about 700 employees in the last two days, about 200 of them, including several Telugus, were said to have lost their jobs due to alleged ethical violations in connection with misuse of corporate grant programmes.
Many of them allegedly colluded with non-profit organisations, reportedly including the Telugu Association of North America (TANA), to submit fraudulent claims for donation matches.
According to reports in the local media and Telugu websites, those who sacked included a regional vice president of TANA and the spouse of a former president of the American Telugu Association, with investigations reportedly hinting at the involvement of more non-profit groups other than TANA in the scam.
This is not the first instance of TANA being in the spotlight. In December, reports from the US said a court in California had issued a subpoena to TANA, asking for records of its financial transactions from 2019 to 2024.
Cupertino major Apple too had sacked over 100 employees, many of them Telugus, in connection with similar cases of exploitation of grant matching programmes.
