Tuesday, March 11th, 2008...12:02 pm
Countrywide Financial in Alaska
Today’s Wall Street Journal (03/12/08 A-3) carries an article about “dubious information” in files of mortgage lender Countrywide Financial Corp., and illustrates the issue by reference to a criminal prosecution in Alaska. The case is U. S. v. Kourosh Partow, 3:06-cr-00104-HRH. Partow pleaded guilty, and Judge Holland, on August 24, 2007, sentenced the former lending company officer to 25 months imprisonment and 36 months supervised release, $50,000 in fines, and $190,000 in restitution for wire fraud under 18 USC § 1343.
Partow contended that Countrywide “encouraged what could be characterized as manipulation” of the borrower’s financial picture. Countrywide claims it was the victim of the officer’s crime. Partow’s Sentencing Memorandum contains his detailed picture of Countrywide’s Alaska lending practices. Karen Loeffler prosecuted. Kevin Fitzgerald represented Partow.
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