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Former Countrywide Employee Awarded $57 Million in BofA Whistleblower Case

Wednesday, December 17, 2014

The person who perhaps made it possible for state and federal governments to collect billions from the Bank of America will apparently be amply compensated for his actions.  The New York Times is reporting that Edward O'Donnell, a former employee at Countrywide Mortgage which was purchased by the bank in 2008, will receive a whistle-blower reward of more than $57 MILLION  for his role in an August civil settlement.

Bank of America agreed to pay $16.65 billion in penalties to settle claims from federal prosecutors and several state attorneys general.  The bank was sued as successor in interest to Countrywide, one of the largest mortgage lenders in the country at the beginning of the century, has been repeated accused, along with its founder and CEO Angelo Mozilo of writing and selling shoddy mortgages...

 

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