The alleged scandals involving Enterprise Mortgage Acceptance Co. (EMAC) intensified recently as Teachers Insurance Annuity Association (TIAA) filed a lawsuit against the company and several of its principals to recoup nearly $50 million in losses suffered from investments in EMAC's deteriorating securitizations.

The lawsuit names EMAC's parent company Koch Industries and several former senior officers of EMAC, including Ken Saverin, Jeffrey Knyal, Charlene Chai, Sean Stalfort and Jeffrey Thompson (of Koch Capital Servicers, who replaced Saverin as CEO in late 2000). Officials at EMAC could not be reached for comment. As of press time, media relations officials at Koch did not return phone calls.

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