U.S. Ends Probe of Countrywide Ex-CEO Mozilo, L.A. Times Says

U.S. prosecutors have ended a criminal investigation into former Countrywide Financial Corp. Chief Executive Officer Angelo Mozilo after finding no evidence of any crime, the Los Angeles Times reported.

A federal grand jury began a probe of Mozilo in 2008, the newspaper said. The investigation ended without any indictments of Mozilo or others at the mortgage lender based in Calabasas, California, the newspaper said, citing unidentified people familiar with the prosecution and defense attorneys.

Mozilo declined to comment to the newspaper. Countrywide was acquired by Bank of America Corp. in 2008

Earlier this month, he and former Chief Operating Officer David Sambol agreed to a $6.5 million settlement to resolve a predatory lending lawsuit filed by California.

To contact the reporter on this story: Dan Hart in Washington at dahart@bloomberg.net

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net

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