Mozilo charged with fraud

The government is charging Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., and two other company executives with civil fraud. Daily News.

The case brought by the Securities and Exchange Commission also accuses Mozilo of illegal insider trading, according to an agency spokesman.

Countrywide was a major player in the subprime mortgage market, the collapse of which in 2007 touched off the financial crisis that has gripped the U.S. and global economies.