The Securities and Exchange Commission is going after its highest-profile target yet as it sorts through the wreckage of the subprime mortgage meltdown: former chief executive officer of Countrywide Financial Corp., Angelo Mozilo.

The agency announced charges against Mozilo Thursday afternoon for securities fraud and insider trading. It also brought securities fraud charges against former chief operating officer and president David Sambol, and former chief financial officer Eric Sieracki. The civil complaint was filed in the U.S. District Court for the Central District of California.