NEW YORK CITY-The former CEO of Countrywide Financial Corp.–Angelo Mozilo–and two other executives are being accused of fraud by the US Securities and Exchange Commission, reports Bloomberg.com. The SEC reportedly came to this after an investigation into the subprime mortgage crisis.
Similar accusations had been leveled at executives from American Home Mortgage Investment Corp. and Bear Stearns Co., last year. The accused will presumably dispute the SEC’s charges.
To read the full Bloomberg article, click here.