Friday, June 05, 2009
David Scheer and Karen Gullo, Bloomberg.com,
David Scheer and Karen Gullo, Bloomberg.com,
Countrywide’s Mozilo Accused by SEC of Fraud
June 4 (Bloomberg) -- Former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo and two other people were accused of fraud by the U.S. Securities and Exchange Commission following an investigation of the firm’s role in the subprime mortgage crisis.
Mozilo, 70, is the most prominent executive targeted by U.S. regulators examining the subprime mortgage crisis. In April, the SEC reached a $2.45 million settlement with Michael Strauss, the former CEO of American Home Mortgage Investment Corp., over claims he understated loss reserves before the Melville, New York-based lender’s bankruptcy.
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Posted by Editor on 06/05/09 at 05:18 PM •
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