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.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.