SEC Readies Charges Against Countrywide's Angelo Mozilo
More News related to BAC
- Option volume leaders today according to Track Data are: AIG GE BAC JPM
- Financial Services Executive Named to PPL Corporation Board
- Bank of America Invests $20 Million in U.S. and U.K. to Support Nonprofits, Confront Critical Social Issues in Current Economy
- Goldman Says We're Entering Final Third of U.S. Bank Losses; Says Stress Test Was Enough (XLF, BAC, JPM, COF)
- BofA Merrill Lynch Global Research Hires Douglas Becker and Gil Yang to U.S. Energy Team
More News related to General News
- Murdoch Shoots Down Rumors of News Corp. (NWS) De-Listing from Google (GOOG) and Joining Microsoft's (MSFT) Bing
- Joseph Bruno, former NY Senate leader, has been found guilty of corruption
- Obama intends to end Afghanistan war within three years
- Cyber Monday Sales Rose 14%
- European stocks jump most since July, the Stoxx 600 is now up 2.6%
Reports from the Wall Street Journal, the SEC has recommended filing civil fraud charges against Countrywide co-founder and former CEO Angelo Mozilo over violations of insider-trading laws and failing to disclose material information to shareholders.
Mozilo sold millions of shares of Countrywide ahead of the company's fall from grace and fire-sale to Bank of America (NYSE: BAC). Countrywide was the country's largest mortgage lender and was collapsing under mounting mortgage related losses.
The Journal said Mozilo's attorneys could still persuade the SEC's commissioners not to bring a case.
Related Categories
General NewsHot List
Stocks Mentioned
+0.05Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
