Another Zio-Fraudster

 

 

 

 

 

 

 

 

 

 

 

 

Isn't Moishe Dapper

 

 

 

 

 

 

 
 

Angelo R. Mozilo

Angelo R. Mozilo (nee Abe Moishe?) was the chairman of the board and chief executive officer of Countrywide Financial until July 1, 2008. He is the son of a Bronx butcher. 

Since Countrywide was listed on the NYSE in 1984, Mozilo has sold $406 million worth of its stock, mostly obtained through stock option grants. $129 million of this was realized in the 12 months ending August 2007. Mozilo's compensation during the United States housing bubble of 2001–06 has come under scrutiny. During that period, his total compensation (including salary, bonuses, options and restricted stock) approached $470 million.

Over many years, Mozilo sold hundreds of millions of dollars in stock personally[9], even while publicly touting the stock and using shareholder funds to buy back stock to support the share price. On June 4, 2009, the U.S. Securities and Exchange Commission charged former CEO Angelo Mozilo with insider trading and securities fraud.
7
 

   

 

 

 

 

 

David Loeb Is His Partner

In 1978 he and his former mentor David S. Loeb, who had already started a mortgage lending company, founded Countrywide Credit Industries in New York. They later moved the headquarters to Calabasas, California in Los Angeles County. Mozilo and Loeb also cofounded IndyMac Bank, which was founded as Countrywide Mortgage Investment, before being spun off as an independent bank in 1997. IndyMac collapsed and was seized by federal regulators on July 11, 2008.

   
 

 

 

 

 

The collapse of Enron

Tyco Collapse

The fleecing of Comverse

 Judicial Index