Countrywide chief executive hit with record fine

us-sec

WASHINGTON, DC – Former Countrywide Financial chief executive, Angelo Mozilo has agreed to pay a record $22.5 million settlement with the US Securities & Exchange Commission (SEC) against charges of misleading investors. The SEC has also permanently banned Mozilo from serving as an officer of a publicly traded company. In June 2009, the regulator filed charges against Mozilo, the firm's chief operating officer David Sambol and chief financial officer Eric Sieracki, which alleged the