Summary Box: Mozilo settles with SEC for $67.5M (AP)

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

AP – BIG SETTLEMENT FOR COUNTRYWIDE CO-FOUNDER: Former Countrywide Financial CEO Angelo Mozilo agreed to a $67.5 million settlement to avoid trial on civil fraud and insider trading charges. Federal regulators had accused him of profiting from doling out risky mortgages while misleading shareholders about the risks.

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