Countrywide’s Mozilo Settles SEC Case

Former Countrywide Financial Corp. CEO Angelo Mozilo and two other former execs — CFO Eric Sieracki and former COO David Sambol — of the mortgage lender agreed today to settle SEC allegations that they misled investors.

Mozilo, the best-known figure involved in the mortgage industry’s boom and collapse, agreed to settle with the SEC for $67.5 million without admitting wrong doing. A criminal investigation however, of Mozilo remains open.

Countrywide was taken over for $4 billion in an all-stock deal by Bank of America (BAC) in January 2008.

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