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Execs Cashed Out as Subprime Giant Staggered

Irregular trades by execs at doomed subprime firm raise questions

By Rob Quinn, Newser Staff

Posted Nov 26, 2008 9:10 AM CST

(Newser) – Bosses at one of the country's biggest subprime lenders made some suspicious stock sales as the firm's mortgages soured, a Los Angeles Times investigation reveals. Records show that executives at now-bankrupt New Century Financial sold nearly $20 million in company shares shortly after setting up... Read full story »

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Department of Justice • executive compensation • insider trading • subprime mortgages • stock options • New Century Financial • subprime lender

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Execs Cashed Out as Subprime Giant Staggered

Irregular trades by execs at doomed subprime firm raise questions

Department of Justice • executive compensation • insider trading • subprime mortgages • stock options • New Century Financial • subprime lender

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More Newser Stories

Bankrupt Lender's Audit Lapses 'Mind Boggling'

Bankrupt subprime lender, auditor ripped in report on business practices

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Banks jumping back into lucrative market

Netflix Boss' Stock Options Cut in Half

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Perry Gave Huge Tax Grants to Subprime Lenders

Countrywide, WaMu got $35M as they upped risky loans

Fed Hits Wells Fargo With Record $85M Fine

Bank accused of mortgage abuses

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