Angelo Mozilo

from Wikipedia, the free encyclopedia

Angelo R. Mozilo (born 1938 in New York City ) is an American businessman. Mozilo is the founder of the largest American subprime mortgage company Countrywide Financial Corporation and was its CEO until 2008.

Life

Mozilo graduated from Fordham University and is married. He has five children.

In June 2009, the US Securities and Exchange Commission filed a lawsuit against Mozilo: He is said to have made around 140 million dollars through insider trading .

Investigators for the US Securities and Exchange Commission announced on October 15, 2010 that Angelo Mozilo had to pay a total of $ 67.5 million for leaving his shareholders in the dark about the company's dangerous business in the mortgage market . According to its own information, the SEC has never imposed a higher fine on a CEO. In order to avoid lengthy and incalculable legal proceedings, the SEC set this - lower than the originally requested - sum of 140 million dollars as part of a settlement.

additional

After the 2008 financial crisis , Time Magazine included him in the list of the 25 people most responsible for the crisis. Portfolio.com ranked him second in the list of the worst American business leaders. The documentary Inside Job by Charles H. Ferguson names Mozilo as one of the people responsible for the financial crisis.

Individual evidence

  1. ↑ dpa: Financial crisis: US bank chief has to pay a fine of millions. In: Zeit Online. October 16, 2010, accessed October 16, 2010 .
  2. ↑ http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877329,00.html
  3. ^ "Portfolio's Worst American CEOs of All Time." CNBC.com April 30, 2009.

Web links

personal data
SURNAME Mozilo, Angelo
ALTERNATIVE NAMES Mozilo, Angelo R.
BRIEF DESCRIPTION American entrepreneur and manager
DATE OF BIRTH 1938
PLACE OF BIRTH New York City