The closure of the case after two years of inquiry follows last October’s settlement by Angelo Mozilo, former head of Countrywide Financial, of insider trading allegations.
Originally posted here:
Case on Mortage Official Is Said to Be Dropped
Federal prosecutors have ended a criminal investigation of Angelo R. Mozilo, the former chief executive of the mortgage lender Countrywide Financial, without taking any action against him, according to a person with direct knowledge of the investigation.
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DealBook: Criminal Investigation of Countrywide Chief Ends
Most of the 1.3 million troubled loans were picked up when the bank bought Countrywide Financial in 2008.
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Bank of America to Create Unit for Toxic Loans
Angelo R. Mozilo, Countrywide Financial’s chief executive, was publicly buoyant about its ability to ride out the mortgage crisis. Privately, he was gloomier.
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How Countrywide Covered the Cracks
