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June 5, 2009

Ex-Countrywide CEO Accused of Fraud, Insider Trading
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The former chief executive and co-founder of the mortgage lender
Countrywide Financial has been charged with civil fraud and illegal
insider trading. On Thursday, federal regulators said Angelo Mozilo and
two other Countrywide execs misled shareholders about the failings of
their vast holdings in subprime loans. Countrywide played a major role
in the subprime mortgage scandal, holding one of every six mortgage
loans in the United States.



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