Former US Mortgage Chief Executive Charged With Fraud

06/04/2009 • By Andrew Clark, Guardian.co.uk

Angelo Mozilo, co-founder of Countrywide Financial, accused of lying to investors about reckless loans. One of America's top mortgage tycoons, Angelo Mozilo, was charged with fraud and insider dealing today for allegedly lying to investors about a toxic build-up of billions of dollars in reckless loans at his Countrywide Financial homeloans empire.

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