Search for: "Angelo Mozilo"
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5 Mar 2023, 1:24 pm
Long-time readers will recall the agency’s 2010 action against Countrywide Mortgage’s CEO Angelo Mozillo, in which the agency alleged alleged that Mozilo engaged in insider trading in the securities of Countrywide by establishing four 10b5-1 sales plans in October, November, and December 2006 while he was aware of material, non-public information concerning Countrywide’s increasing credit risk. [read post]
9 Jun 2021, 2:21 pm
For example, when the SEC brought civil enforcement charges against former Countrywide Financial CEO Angelo Mozilo in June 2009, a critical part of the agency’s allegations was that Mozilo had manipulated his Rule 10b5-1 trading plans to permit him to reap vast profits in trading his shares in company stock while he was aware of increasingly serious problem in the company’s mortgage portfolio. [read post]
13 Aug 2017, 2:46 pm
Arguably the highest profile example of a case in which the existence of a Rule 10b5-1 trading plan faced substantial scrutiny is the 2009 enforcement action that the SEC brought against former Countrywide Financial Angelo Mozilo. [read post]
10 Mar 2017, 12:00 pm
As reported in The New York Times, the Justice Department made the decision not to file a civil fraud case against Angelo R. [read post]
9 Jun 2016, 3:28 pm
For example, following the SEC enforcement action involving former Countrywide Angelo Mozilo, in which it emerged that Mozilo had secured enormous profits by executing trades pursuant to four overlapping trading plans, it was proposed that the Rule should be modified so that there is only a single plan, rather than multiple plans. [read post]
1 Jun 2015, 3:09 am
Most senior corporate executive have a general understanding of the importance to them of their corporate indemnification rights. [read post]
26 May 2014, 9:30 pm
In a world of CEOs like Angelo Mozilo (former CEO of Countrywide Financial) and Lloyd Blankfein (CEO of The Goldman Sachs Group, Inc.), who earned hundreds of millions of dollars through securitization leading up to the crisis, this may seem like a rounding error. [read post]
3 Jan 2013, 12:28 am
The year just finished included dramatic and important developments involving elections, tragedies and natural disasters. [read post]
14 Aug 2012, 6:00 am
Raines’ successor Daniel Mudd buying trash that Angelo Mozilo was furiously selling). [read post]
15 Jul 2012, 7:49 pm
In January 2008, after supervisors had repeatedly ignored his warnings, Lagow sent an email to Countrywide Chief Executive Officer Angelo Mozilo, according to the complaint. [read post]
10 Jul 2012, 4:27 pm
Cato's David Boaz today hits on one such example that Carney misses, Countrywide home loans: I was struck by this point in a Bloomberg report, about Countrywide CEO Angelo Mozilo’s close relationship with Fannie Mae chief executive Jim Johnson, former top aide to Vice President Walter Mondale and chairman of both the Brookings Institution and the Kennedy Center. [read post]
CULTURE OF CORRUPTION: “Countrywide Financial Corp. gave discount loans to former and current membe…
5 Jul 2012, 9:55 am
.” Plus, from Angelo Mozilo: “Don’t worry” about the credit score. [read post]
3 Jul 2012, 7:26 am
Mozilo closed the book on Countrywide: Angelo Mozilo: The man who built Countrywide in October agreed to pay $67.5 million in penalties to settle SEC civil fraud and insider-trading charges related to the near-collapse of his company. [read post]
2 Jul 2012, 2:55 pm
Countrywide, founded 43 years ago, became the nation’s largest originator of home mortgages under the leadership of co-founder Angelo Mozilo, the son of a Bronx butcher. [read post]
25 Apr 2012, 10:25 am
” For instance, Angelo Mozilo, Chief Executive of Countrywide Financial Corp., agreed to a settlement of $67.5 million ($22.5 million penalty and $45 million disgorgement), while denying any wrongdoing. [read post]
12 Apr 2012, 6:19 am
Even when the SEC gets the right guys—such as Countrywide Financial CEO Angelo Mozilo—they settle without any admission of wrongdoing. [read post]
9 Apr 2012, 3:49 pm
Grassley expressed anger that no criminal charges were brought by the DOJ Criminal Division against former Countrywide Financial CEO Angelo Mozilo. [read post]
13 Mar 2012, 7:00 am
Evil of the Austin Powers movies would be impressed with, is one of the largest by the SEC against an individual executive for activities related to the mortgage crisis, though dwarfed by Countrywide’s CEO, Angelo Mozilo’s record $22.5 million penalty to settle charges that he and two other Countrywide executives misled investors as the subprime mortgage crisis emerged. [read post]
16 Feb 2012, 7:45 pm
"Documents obtained by the committee show that former Countrywide Chief Executive Officer Angelo Mozilo personally referred government officials and other individuals positioned to benefit the company into the VIP program, known internally as 'Friends of Angelo,'" according to the letter. [read post]
20 Jan 2012, 7:44 am
Countrywide co-founder Angelo R. [read post]
