The Securities and Exchange Commission announced that it has reached a settlement with former Countrywide CEO Angelo Mozilo under which he will pay $22.5 million to settle fraud charges. He was charged with insider trading for selling his Countrywide stock, worth $140 million, based on non-public information. Mozilo was the fourth best paid CEO in 2008 with a five year compensation total of $391.9 million. Most of his compensation came throgh stock options. He accumulated $406 mllion since the company went public in 1984.