burdukovahycel.blogspot.com
BofA told the news agency Mozilo is covered by an indemnity clauss that was in place when heran Countrywide, which BofA acquired in July for $2.5 billion. The deal made the N.C.-based bank the country’s largest mortgage Last week, the Securities and Exchange Commissio charged Mozilo and two others withsecuritiees fraud. SEC regulators accuse Mozilo and the other former Countrywided executives of misleading investors about the credigt risks the company took to increase its market The SECalleges Mozilo, former Chief Operating Officer David Sambol and forme Chief Financial Officer Eric Sieracki falsely assured investors that Countrywids was primarily a prime-quality mortgage lender that had avoidedx underwriting risky loans.
The chargews stem from actions in 2005to 2007. Mozilo also was chargedf with insider trading. The SEC allegee he sold Countrywide stock on the basis ofnonpublicc information, reaping $140 million in profits.
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