Well, it turns out that crime does pay after all. Just ask Angelo Mozilo. Not only did he destroy a company and toss a grenade onto the American economy, he profited handsomely for the effort.
Former Countrywide CEO and co-founder Anthony Mozilo cut a deal with the Security and Exchange Commission (SEC), bringing an end to the government’s case against the world-class fraudster. Mozilo has agreed to pay $67.5 million in restitution for his role in the Countrywide meltdown, and the subsequent explosion of the American real estate market.
Countrywide was handing out loans hand over fist to the most unqualified and dubious applicants. Continue reading SEC Folds on Countrywide Debacle
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