FBI Probe Threatens Bank of America's Countrywide Deal

March 2008 | Corporate Financing News Alert

The FBI is investigating whether troubled mortgage lender Countrywide committed securities fraud by making false statements about its financial position, according to a report in the Wall Street Journal. While a spokesman for Countrywide insisted the company was not aware of any FBI probe, it is understood the agency is currently looking into the origination and securitisation processes of fifteen subprime lenders for potential conflicts of interest between themselves and Wall

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