SEC may charge Mozilo

Staff at the Securities and Exchange Commission will recommend filing civil fraud charges against the former Countrywide CEO that could involve violation of insider-trading laws and failing to disclose material information to shareholders, the WSJ is reporting. Mozilo was sent a so-called Wells notice several weeks ago (that alerts folks that charges are forthcoming). Of course, Mozilo's attorneys could still persuade the SEC commissioners not to bring a case, though I wouldn't want to put much money on that prospect.



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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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