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News Link • Corruption

BofA's Countrywide sued, accused of massive fraud

• Reuters

According to the complaint, the investors bought hundreds of millions of dollars of Countrywide securities from 2005 to 2007 that they thought were "conservative, low-risk investments."

The investors said Countrywide misrepresented the securities' safety in offering documents and elsewhere, and compromised their investments by ignoring its underwriting guidelines.

1 Comments in Response to

Comment by Hugo Tellez
Entered on:

 Where is Angelo Mozilo now ????? How big does the fraud need to be, for these banksters to go to jail ? send them all to tent city !!!!

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