Angelo Mozilo

Angelo R. Mozilo ( born 1938 in New York City ) is an American businessman. Mozilo is the founder of America's largest mortgage provider in the subprime business Countrywide Financial Corporation and was its CEO until 2008.

Life

Mozilo studied at Fordham University and is married. He has five children.

In June 2009, the Securities and Exchange Commission filed a lawsuit against Mozilo: He should have through insider trading generates about $ 140 million.

The investigators of the U.S. Securities and Exchange Commission announced on 15 October 2010 that Angelo Mozilo must pay a total of $ 67.5 million ( 48 million euros ), because he had left his shareholders about the dangerous business of the company in the mortgage market in the dark. According to the company, the SEC has never imposed a higher fine against a CEO. In order to avoid a lengthy and unpredictable lawsuits out of the way, put the SEC in the context of a comparison of these - lower than the originally requested - sum of 140 million dollars.

More

After the financial crisis of 2008 took him Time magazine's list of the 25 people who were most responsible for the crisis. In the list of the worst American CEO Portfolio.com ranked him in second place .. The documentary Inside Job by Charles H. Ferguson calls Mozilo as one of those responsible for the financial crisis.