Angelo Mozilo, the former chief executive officer and chairman of Countrywide Financial Corp., once the nation’s largest mortgage lender, has agreed to pay $67.5 million to settle claims by the U.S. Securities and Exchange Commission that he misled shareholders about the risks associated with his company’s loans.
Also settling was Countrywide’s former president, David Sambol, who will pay more than $5.5 million; and Countrywide’s former chief financial officer, Eric Sieracki, who will pay $130,000.
