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  • Fraud charge for Countrywide boss

    06/04/2009 3:40:57 PM PDT · by LurkedLongEnough · 10 replies · 558+ views
    BBC Americas ^ | 4 June 2009 | Unattributed
    Angelo Mozilo, former boss of Countrywide Financial, has been charged with civil fraud and insider trading by the Securities and Exchange Commission. He is the highest profile executive to face charges relating to the US sub-prime mortgage crisis in 2007. --snip-- Mr Mozilo has denied doing anything wrong. Two other former executives have also been charged with civil fraud. --snip -- The SEC published extracts from e-mails sent by Mr Mozilo. "The bottom line is that we are flying blind on how these loans will perform in a stressed environment of higher unemployment, reduced values and slowing home sales," he...