Angelo Mozilo Settles SEC Charges For $67.5 Million (Michelle Caruso-Cabrera Reports Breathlessly)

Video:  CNBC's Caruso-Cabrera reports...

Mozilo and the others were to face trial on the charges next week.

Mozilo agreed to repay $45 million in ill-gotten profits and $22.5 million in civil penalties.  Former Countrywide President David Sambol will repay $5 million in ill-gotten profits and $520,000 in civil penalties, and former Chief Financial Officer Eric P. Sieracki will pay $130,000 in civil penalties.

Under the agreement, the three men did not admit wrongdoing.

• Read more at CNBC

• LA Times Coverage

Further reading:

• FTC Chairman: "Most frat houses have better record keeping than Countrywide"

• David Faber: Florida AG Suing Mozilo For Fraud
  

Comments

[DailyBail]

Alec Baldwin and Michelle Caruso-Cabrera? uh, no

http://celebrifi.com/gossip/Alec-Baldwin-and-Michelle-CarusoCabrera-uh-no-1375003.html

[DailyBail]

http://en.wikipedia.org/wiki/Angelo_Mozilo

[DailyBail]

Cramer: We Paid for Countrywide CEO’s Mistakes

http://www.cnbc.com/id/39686938

[DailyBail]

Bank Stocks Hit Again, But Analysts Downplay Crisis

http://www.cnbc.com/id/39688735

[DailyBail]

Banks Could Lose $80 Billion From Mortgage Mess: Bove

http://www.cnbc.com/id/39686205

[mark mchugh]

I'll be looking for my check from the SEC. I reported Mozilo for insider trading and applied for the bounty in March 2007. I'm not sure if they will send me $4.5 Million or $6.75 Million.

Pretty sweet, huh?

[Aint Bullshittin']

we need a "perp" walk....not a check....A-HOLES...AB

[Z]

Can we start with Obama. A forced answer to one question could sink his ship.

[Sell Short]

Cramer is the biggest crook on TV. He only says things to kiss ass with his audience. i remember when Countrywide was about to fall part, Cramer was pumping the company saying "best of breed" and that "now that all these other lenders are out of business, Countrywide will benefit" ..his pumps held up the stock while the crook Mozilo was dumping his shares.

Its a shame how a crook like Mozilo that created the entire subprime mess can get away and the legal system cant do anythin. We are all suffering because of this crook's masiive greedy. Shame on the legal system!!