Search for: "ANGELO MOZILO, as individual"
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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]
1 Jun 2015, 3:09 am
As discussed here, a related but sometimes even more important corporate benefit is the right to advancement – that is, the right to have their defense fees paid on a contemporaneous basis while legal proceedings against them are pending, subject only to the individual director or officer’s undertaking to repay the amounts if it ultimately is determined that the individual is not entitled to indemnification. [read post]
3 Jan 2013, 12:28 am
Other banks may only carry so-called Side A only insurance, which covers individual directors and officers only and is only available when the corporate entity is unable to indemnify the individuals due to insolvency or legal prohibition. [read post]
10 Jul 2012, 4:27 pm
America possesses a full-time bipartisan political apparatus dedicated to government growth and special deals for favored individuals and sectors. [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]
11 May 2011, 11:30 pm
The prosecution could just stand up and say, “Ladies and Gentlemen of the jury, we are here to punish Angelo Mozilo,” and then sit back down. [read post]
28 Feb 2011, 8:16 am
Mozilo was removed from the individual fraudulent action. [read post]
15 Jan 2011, 7:17 pm
People like Dick Fuld, Angelo Mozilo, and Joe Cassano, who’ve emerged from the financial crisis with hundreds of millions of dollars, appear to be taking extremely large slices of a shrinking pie—and that shrinkage has a lot to do with their mismanagement. [read post]
15 Jan 2011, 7:17 pm
When Tom Friedman tells Americans that they need to become "ten times more productive," he's trying to inspire a rugged individualism of self-improvement. [read post]
16 Dec 2010, 2:15 pm
Had Angelo Mozilo not pushed Countrywide deeper into riskier mortgages, some other firm would have taken its place. [read post]
15 Dec 2010, 6:18 pm
Thus far, no executives have been imprisoned in any part of the mortgage crisis -- even Angelo Mozilo of Countrywide. [read post]
18 Oct 2010, 8:24 am
Former CEO, Chair and founder Angelo Mozilo agreed to pay $67.5 million, with $22.5 million being paid out of his own pocket (Bank of America will pay balance, though some has already been paid). [read post]
19 Apr 2010, 9:26 am
The SEC additionally accuses Mozilo of insider trading of Countrywide stock. [read post]
