Countrywide CEO Mozilo settles with SEC for $67.5M (AP)

Posted by Yahoo! News: Stock Markets News on October 15th, 2010

FILE - This March 7, 2008 file photo shows Angelo Mozilo, founder and former CEO of Countrywide Financial Corporation, testifying before the House Oversight and Government Reform Committee hearing on Capitol Hill in Washington. A judge ruled Friday Oct. 8, 2010 that federal regulators in an upcoming trial can use a message written by Mozilo, in which he called himself a 'magnet' for prosecution. (AP Photos/Susan Walsh, File)AP – Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges that alleged he profited from doling out risky mortgages while misleading investors about the risks.


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