Countrywide Execs To Plead Guilty To Insider Trading

Law360, New York (June 27, 2007, 12:00 AM EDT) -- Three former Countrywide Financial Corp. executives have agreed to plead guilty to criminal charges that they traded on confidential financial information in 2004, earning tens of thousands of dollars in ill-gotten profits, the U.S. Attorney’s office said Tuesday.

In plea agreements filed in the U.S. District Court for the Central District of California, Alan Cao, Quan Zhu and Jun Shi all agreed to plead guilty to one count of securities fraud in the form of insider trading. In signing the agreements, the men acknowledged that they...
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