According to a complaint by the Securities and Exchange Commission, former Countrywide chief Angelo Mozilo pocketed around $140 million by selling shares of his company when he knew based on inside information that the stock was headed for a fall. In today’s settlement of the SEC case, the agency is assessing a $67.5 million Read More
As reports suggested earlier today, the three ex-Countrywide Financial executives that faced civil fraud charges have settled the beef, avoiding a trial that had been scheduled for next week, according to the Associated Press.
Former Countrywide CEO Angelo Mozilo is now set to pay back $45 million “in ill-gotten profits,” the AP Read More
Former members of Countrywide Financial’s management team may be partly off the hook for Securities and Exchange Commission charges that include fraud and, for ex-CEO Angelo Mozilo, an insider-trading beef.
The New York Times reports that settlement talks have ramped up over the SEC suit against ex-Countrywide execs Angelo Mozilo, David Sambol Read More