Angelo Mozilo Says SEC Admits Investors Knew Risks
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Countrywide Financial Corp.’s former chief executive officer, Angelo Mozilo, said the U.S. Securities and Exchange Commission now admits the home lender wasn’t hiding from investors that it was originating risky mortgages.
Mozilo, 71, in a filing yesterday in federal court in Los Angeles, asked U.S. District Judge John F. Walter to rule on the SEC’s fraud allegations, saying the “undisputed evidence” shows there was no wrongdoing. Former Countrywide Chief Operating Officer David Sambol and former Chief Financial Officer Eric Sieracki also asked Walter to decide the case in their favor without a trial.