Monday , 22 April 2019
Breaking News
Home » Business » Fraud charge for former countrywide boss

Fraud charge for former countrywide boss

The former boss of countrywide financial, Angelo Mozilo has been charged under Civil fraud  and  insider trading by the securities and Exchange  commission. Along with him, two other former executives have also been charged under civil fraud.

Mr.Angelo Mozilo was ofcourse the original founder of the countrywide financial in early 1969.He is the highest profile executive to face such a charge ever which all relates to the US  sub-prime mortage in 2007. It was rescued by Bank of America for the sum of $2.5 billion last year 2008.

When questioned about the charges to Mr.Mozilo, “he denies the charge made against him”

Related stories:

Car Sales Rise High in India
India to Open Stock Market to Foreigners
Sony Suffers $2.9 Billion Loss, New CEO Says Things to Get Worse
Sony Reports $5.7 Billion Loss, Fourth Straight Year of Red
US welcomes Chinese Banks on it's Land!
Yahoo CEO shown the Door, Thanks to Loeb
U.S Court Rejects Samsung's Request to Lift Ban of Galaxy Tab Sales
Microsoft CEO Satya Nadella Reveals Microsoft Will Continue To Work On Bing & Xbox