Fake and bake or spray tan? He will probably loose that tan in jail. Its about time the Angelo Mozilo gets accused of something, with all the money he made and misleading investors down to the last days of Countrywide.
Today the U.S. government has accused Angelo Mozilo and two other former executives of the fallen mortgage lender Countrywide of civil fraud and insider trading. The three dispute the civil charges by the Securities and Exchange Commission.
ALLEGED INSIDER TRADING: In addition to misleading investors about the risks taken by Countrywide, the SEC says Mozilo reaped nearly $140 million by selling his company stock based on confidential information.
MOZILO A HIGH-PROFILE PLAYER: Mozilo, who co-founded Countrywide 40 years ago and built it into the biggest U.S. mortgage lender, became a major player in the subprime mortgage market that collapsed in 2007 and touched off the global financial crisis.
LOL, gotta love the fake tan.