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.