Although a number of banks have been fined billions of dollars for selling toxic mortgages in the run-up to the global financial crisis, few individuals have been brought to book.

But that’s changing for the man who co-founded one of the biggest lenders in the U.S., Countrywide.

CCTV America’s Yakenda McGahee reports.

In the years leading up to the 2008 financial crisis, California-based mortgage lender Countrywide was reportedly financing an estimated one out of every five U.S. home mortgages.

By 2007, the company, later bought by Bank of America, was on the brink of collapse. Many analysts blamed Countrywide’s questionable lending standards and its CEO Angelo Mozilo as the catalyst for the country’s economic crisis.