Finally, after I called for this for 2 years that pos Mozillo CHARGED

Discussion in 'Wall St. News' started by stock777, May 13, 2009.

  1. Thats right, look it up.

    I called for Mozillo to be tried , convicted and hung for two years.

    SEC is now charging them.

  2. The tan man oompa loompa is going to jail!
  3. You get a cookie!!!!! Every homeowner he screwed has been calling in for a while too. I'm sure Ken Lewis is psyched too...and so are some BAC shareholders. No Surprise here!!
  4. Yeah, well I didn't say it was a hard call, cept they let him off easy in his congressional testimony. This scum is a poster boy for the abuses in the mortgage game.
  5. You sure he's been charged?

    It says SEC may consider charges.
  6. Yeah, never mind, he's innocent.
  7. No man with a tan like that is innocent.

    Just trying to be accurate. :]
  8. can you post the link?
  9. That's a good one...
  10. Here you go:

    SEC Staff to Recommend Civil Charges for Mozilo
    WSJ - May 13. 2009
    Staff at the Securities and Exchange Commission have decided to recommend filing civil fraud charges against Angelo Mozilo, the co-founder of Countrywide Financial Corp., according to people familiar with the investigation.

    The SEC sent a so-called Wells notice to Mr. Mozilo several weeks ago alerting him of the planned charges, the people said. The potential charges include alleged violations of insider-trading laws as well as failing to disclose material information to shareholders, according to one person familiar with the matter.

    A Wells notice is a precursor to a civil lawsuit in an SEC investigation. It outlines to an individual or company under investigation what charges might be filed against them and gives a target a chance to respond to the allegations.

    Mr. Mozilo's attorneys could still persuade the SEC's commissioners not to bring a case.

    Countrywide was once the nation's biggest home-mortgage lender. Amid the housing downturn, it was acquired last year by Bank of America Corp.

    Mr. Mozilo has previously maintained that he hasn't done anything wrong. If the SEC's commissioners approve the filing of a civil suit against Mr. Mozilo, it could be announced within the next few weeks, say people familiar with the matter.

    David Siegel, an attorney for Mr. Mozilo couldn't immediately be reached for comment. SEC officials also didn't respond to calls for comment.
    #10     May 13, 2009