SEC Investigates Countrywide CEO: Report

Law360, New York (October 18, 2007, 12:00 AM EDT) -- The chief executive officer of mortgage lender Countrywide Financial Corp. has reportedly become the subject of a U.S. Securities and Exchange Commission investigation, which has launched a probe into the executive's stock sales.

Regulators will take a closer look at sales made by Countrywide CEO Angelo Mozilo, according to an article published by the Wall Street Journal on Thursday.

New York Sen. Charles Schumer (D-N.Y.) issued a statement urging the SEC to expand its inquiry to include not only Mozilo, but also Countrywide itself.

The agency...
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