Angelo R. Mozilo, who presided over the spectacular rise and devastating fall of Countrywide Financial Corp., struck a deal Friday to avoid going to trial next week on accusations of investor fraud and insider trading. Mozilo agree to pay $22.5 million in fines to the SEC and to turn over $45 million in ill-gotten gains to former shareholders who have sued him.
Inside these posts: Civil fraud
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Oct. 15, 2010 at 3:18 p.m.
Comments Off
Filed under: Investigations, Litigation, Real estate, Updated Countrywide’s Mozilo settles suit for $67.5 million
Aug. 20, 2010 at 1:59 p.m.
Comments Off
Filed under: Banking, Criminal charges, Fraud, Investigations, Litigation, M&A BofA, Lewis deny charges in Merrill Lynch deal
Bank of America Corp. and former Chief Executive Kenneth Lewis denied civil fraud charges brought by New York’s attorney general over the bank’s takeover of Merrill Lynch & Co. amid the 2008 financial crisis.
In court papers filed Wednesday, Lewis said the state’s prosecutor Andrew Cuomo had no basis in his lawsuit to allege a conspiracy to mislead the public and shareholders about Merrill’s deteriorating finances and Bank of America’s desire for government assistance. Get the full story »
