Countrywide's Mozilo Said to Face U.S. Suit Over Loans

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Countrywide’s Mozilo Said to Face U.S. Suit Over Loans

Countrywide’s Mozilo Said to Face U.S. Suit Over Loans

AND …Again…But aren’t the statute of limitations NOW after them? I’m sure they are! Nice try Holder, Nice try!

Look forward to the complaint coming soon.


Bloomberg-

Countrywide Financial Corp. co-founder Angelo Mozilo hasn’t escaped the wrath of prosecutors for his company’s role in inflating the U.S housing bubble that preceded the financial crisis.

More than 12 months after a deadline passed to file criminal charges, U.S. attorneys in Los Angeles are preparing a civil lawsuit against Mozilo and as many as 10 other former Countrywide employees, according to two people with knowledge of the matter.

The government is making a last ditch-effort to hold him accountable for the excesses of the past decade’s subprime-mortgage boom, using a 25-year-old law that has helped the Justice Department win billions of dollars from Wall Street banks, said the people, who weren’t authorized to discuss the case publicly.

[BLOOMBERG]

image: Jay Mallin/Bloomberg

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