SEC Settlement With CFO Cinches AHM Fraud Suit

Law360, New York (June 7, 2010, 7:22 PM EDT) -- Stephen Hozie, the former chief financial officer of fallen lender American Home Mortgage Investment Corp., has agreed to pay $225,000 to settle regulators’ claims he engineered a massive accounting fraud that concealed the first signs of the subprime meltdown from investors.

On Monday, Judge Richard M. Berman of the U.S. District Court for the Southern District of New York wrapped up the U.S. Securities and Exchange Commission’s suit against AHM’s former honchos, signing off on the settlement with Hozie, who had duked it out longer than...
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