Countrywide CEO sold big as stock dropped
Quick changes in Mozilo’s trading plan raise red flags, experts say. The mortgage firm says the sales were in line with company policy. As the mortgage industry swooned in late 2006 and 2007, Countrywide Financial Corp. Chief Executive Angelo Mozilo cashed in stock options valued at $138 million — vastly expanding his wealth even as his shareholders watched their stock shrink in value.
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