FAIL | Criminal Inquiry of Countrywide’s Mozilo Dropped

“All of these senior people got huge payouts and left behind the carnage, which has hurt many hundreds of thousands.”

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Case on Mortage Official Is Said to Be Dropped

By GRETCHEN MORGENSON
Published: February 19, 2011

Federal prosecutors in Los Angeles have dropped their criminal investigation into Angelo R. Mozilo, the former chief executive of Countrywide Financial, once the nation’s largest mortgage lender, according to a person with direct knowledge of the investigation.

The closure of the case after two years of inquiry follows last October’s settlement by Mr. Mozilo of insider trading allegations made by the Securities and Exchange Commission. Regulators had contended that Mr. Mozilo sold $140 million in Countrywide stock between 2006 and 2007 even as he recognized that his company was faltering. Countrywide and Bank of America paid $45 million of Mr. Mozilo’s $67.5 million settlement, and he was responsible for the rest.

Without admitting or denying wrongdoing, Mr. Mozilo agreed to be banned from serving as an officer or a director of a public company.

Really? I mean really? He AGREED to be banned from serving as an officer or a director of a public company?

Why on earth would this man ever need to work, let alone serve as an officer or director of a company after looting the nation of billions of dollars and getting away with it?

Justice is Dead…

The conclusion by prosecutors that Mr. Mozilo, 72, did not engage in criminal conduct while directing Countrywide will likely fuel broad concerns that few high-level executives of financial companies are being held accountable for the actions that led to the financial crisis of 2008.

Hundreds of billions of dollars have been lost by investors while millions of borrowers have lost their homes. Few of the people who ran the institutions that contributed to the disaster have been found liable.

Check out the rest here…

What, you thought it would turn out different?

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4closureFraud.org

Comments
18 Responses to “FAIL | Criminal Inquiry of Countrywide’s Mozilo Dropped”
  1. l vent says:

    The U.N. is holding America hostage because of acts of treason by our own Government. The U.S. Constitution protects the American people from acts of treason by our own tyrannical government. They decieved all of us and tried to sell out our country right out from under us and have corrupted everything in order to try and cover-up the truth by trying to brainwash and condition and therefore trick all of us into living their lies. These are all acts of high treason by a corrupt Government and an evil cabal of elite secret societies who are out to destroy and control America by robbery and assault and then they want to bankrupt America if we do not want to aid and abet them by paying for their robbery of our wealth. They are tyrannical fascists.

    • l vent says:

      Now the Government is threatening the American people with a Government shut down, more treason. These fascists want to deprive the American people of their Social Securitiy checks and income tax refunds that they have already paid for. These politicians should be forced to give up their pay and insurance for the remainder of their term and be forced to stop aiding and abetting the criminals who engineered this economic HOLOCAUST by throwing them and their predecessors all in prison. It is time for the American people to move on Washington. These criminals have to be thrown out on their ears. They are destroying America.

  2. dandiener1 says:

    Let me get this straight. Criminal charges were dropped concerning Mozilo’s knowledge of and use of “insider information” in his sales of personal shares of Countrywide… an action that is illegal?

    OK… I understand the decision whether I agree or not.

    On the other hand … [I sound like an economist] – Are there charges afloat that Mozilo was complicit in creating fraudulent “investment securities” by packaging and selling MBS products that were:

    1. Improperly “assembled” (incomplete transfers of notes – or “no notes”,)
    2. Making false statements re the “quality” of “possible underlying mortgages and notes,” and then
    3. Marketed fraudulently to institutional investors (who should have known better after conducting
    their “duliligence investigations”).?

    Is there a criminal charge for “insider trading” (if it can be proved) and no criminal charges available as a separate legal issue for the above actions?

    Someone…. Please clarify. I’m just a “layman” not an attorney nor a prosecutor. Is there a “difference” here that is not being addressed. Is it possible that Mozila or others are being charged as crimnals for some kind of “investment fraud”? Or maybe operating an illegal “Ponsi Scheme”?

  3. Pamela says:

    This is the reason that the representatives from Deleware would not sign the Constitution until the
    “Right to bear arms” as stated in the 2nd Amendment was added. Why was it so easy for them(our fore-
    Fathers)to see what we somehow miss???

  4. maia says:

    Pete, would also love to know about what Linda Bassett is doing–I, too have had a judge allow a fraudulent assignment into court–could you send your email–Maia

  5. pete pollard says:

    This is truly depressing, but there is nothing I can do about it today.

    However, I will be going to the Lee County Courthouse on Monday morning to try and lend support to Linda Bassett. Her story is in today’s Ft. Myers News Press. Unfortunately I can’t find it online.

    Has anyone ever tried to file a fraud complaint against a judge who accepts fraudulent documents into evidence?

    Pete Pollard
    Cape Coral

  6. Wayne Lewis says:

    When things like this continue to occur, look to see who is to benefit. L.A. county is rife with fraud and I’m positive there are those at the “top”, i.e. prosecutors, that have a financial stake in this. Why bite off the hand that feeds…etc. This is one of the reasons why I home-school my daughter, so she may be taught what truly goes on and to know what to expect in the future. Albeit, I still show her that there are plenty of good, compassionate people out there. Too big to fail..too old to jail ?

  7. l vent says:

    Looks like someone is trying to force a revolution in this country. I can’t see any other explanation for the outrageous behavior being thrown up in our faces everyday. It is time we took our country back from these facsist dictators or we will all end up slaves of the eilite. They are calling America out and saying This is the way it is, don’t like it? It is up to us to do something about it. They are pissing on America and it’s people.

    • l vent says:

      It is time we stopped the class/psycholgical warfare B.S. they are using on all of us to destroy us. They are destroying America. We can not let that happen to America. America is NOT BROKE. WE WERE ROBBED by the ELITE. Don’t believe their LIES. The American people WILL NOT PAY TO COVER UP FOR THE BIGGEST PONZI SCHEME ROBERRY OF OUR WEALTH IN HISTORY. Put back the MONEY YOU STOLE FROM THE PEOPLE. I am sick and tired of their LET THEM EAT CAKE, ATTITUDE. They are evil beyond comprehension.

  8. tommy says:

    there are too many people involved, did you expect anything different
    it is going to happen to all of them its called knowing the RIGHT
    people what is it going to take it is going to take not paying taxes
    and taking a stand our money that we pay in taxes is just going to the
    corruption

    • l vent says:

      Yes, we need a nationwide tax revolt. A real tea party. We are being way to passive, and they are treating us like peons because of it. They are pushing our buttons harder everyday and testing to see how much more they can take away from all of us. They are trying to force us to pay for all of their corruption. THE BUDGET DEFICITS are caused by their CORRUPTION, not because we bought stuff we could not afford. They are forcing us to live lies that they created like we are BROKE..That is an absolute lie. WE WERE ROBBED via Nietzsche class warfare by the elite so they could create a worldwide weimar republic and install a one world currency and a one world dictator. They want to own and control everyone and everything. They want us to own NOTHING BUT DEBT and never want us to prosper. They are Nazi facsist dictators and we are being run and controlled by an Imperialist Oligarchy.They are diabolically and strategically destroying America.

  9. carol says:

    absolutely disgusting…

  10. ermstrategies says:

    For 3 years I have advocated public executions. At least now people don’t immediately call me crazy.

  11. Stupendous Man - Defender of Liberty - Foe of Tyranny says:

    Are we citizens going to have enforce the laws ourselves? I mean really, what is it going to take?

    • Officer of the Law says:

      Most likely. After all, that is what the Founders of our Nation intended any way. They knew that you that you could never trust those in the government with the power to determine right and wrong.

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