SEC Enforcers Sticking To Provable Fraud. For Now.

Law360, New York (June 22, 2009, 12:00 AM EDT) -- On June 4, the U.S. Securities and Exchange Commission launched a securities fraud case against Angelo Mozilo, alleging that the former Countrywide Financial Corp. CEO and two other high-ranking officials at the mortgage originator misled investors about the quality of mortgages it issued.

A judgment against Mozilo would represent a major pelt on the SEC's wall, but it would be only one.

While many had been expecting a torrent of enforcement cases against executives at financial institutions and other players in the financial services industry, there...
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