Monday , 27 March 2023
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:

After France and Germany, Hong Kong sees the end of Recession
Google Trying to Buy Yelp
Yahoo shareholder blasts company for board snub
Eurozone unemployment Hits Historic 10.9 Percent
Last of Hostess Twinkies Sold for $60!
A 97-Month Car Loan?
eBay Recruits Users to Fight Against Sales Tax Legislation
Google Gobbles Divide!