Countrywide Execs Get Three Years Probation

Law360, New York (November 20, 2007, 12:00 AM EST) -- The three former executives of home lender Countrywide Financial Corp. who pleaded guilty to criminal insider trading charges have managed to avoid prison sentences, although they will each serve three years of probation and complete hundreds of hours of community service.

In addition to probation and community service, a judge in the U.S. District Court for the Central District of California fined former Countrywide top brass Alan Cao, Quan Zhu and Jun Shi, ordering Cao to pay $4,000 and Zhu and Shi to each pay $2,000...
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