Roberts Law Group, PLLC
North Carolina Criminal Defense Attorneys

On March 13, the North Carolina Supreme Court announced that courts throughout the state would close for at least 30 days, in an effort to protect public safety amid the Covid-19 outbreak. Roberts Law Group will remain open during this time. We are available to meet with new and existing clients in-person or on the phone. Please call our law office to schedule a time to meet.

We FIGHT For Your Future
We FIGHT For Your Future

Charlotte's Bank of America named as party in fraud lawsuit

A recent lawsuit filed on behalf of investors named Charlotte, North Carolina-based Bank of America and its recently acquired Countrywide Financial unit as parties to "massive fraud."

The lawsuit was filed in New York Supreme Court late last month by 12 separate investment firms, alleging officials at Countrywide provided misleading information to investors on securities backed by mortgages. In the suit, these investment firms claimed to have purchased hundreds of millions of dollars worth of such securities on behalf of their customers from Countrywide over a recent two-year period.

The firms suing Countrywide allege that misinformation was intentionally and recklessly provided to them to foster misconceptions about the health of the securities they were purchasing for clients. The plaintiffs in the case companies claim to have relied on prospectuses, term sheets and other industry-specific forms of documentation that all painted the picture of these securities being low-risk vehicles for investment with higher underwriting standards than were actually present.

The lawsuit also names various former executives as defendants in the case. As one of the defendants, Countrywide's co-founder and former CEO Angelo Mozilo is receiving a large portion of attention in the case. Back in October, Mr. Mozilo settled out of court for a large sum after being accused by SEC of misleading investors in this matter. He and other top executives elected to settle out of court rather than admitting any wrongdoing.

This course of action taken by the executives last fall will make it more difficult for the investment companies' attorneys currently suing the men to prove their guilt in the matter. It will be interesting to watch this case unfold in the news.

Source: Bloomberg "Countrywide Accused in Lawsuit of 'Massive Fraud'' by Karen Freifeld 1/25/11


years of
combined experience

Super Lawyers | Rising Stars 4

attorneys selected to
Rising Stars
between 2019 and 2021

Martindale-Hubbell | AV Preeminent | Peer Rated for Highest Level of Professional Excellence | 2020 3

lawyers rated
through Martindale-Hubbell*

Martindale-Hubbell | Client Champion | Platinum | 2021 4

years our founder has received the Client Champion – Platinum award by Martindale-Hubbell*

Payment Plans Available, Call Now! Visa | MasterCard | American Express | Discover Network

Client Reviews

Get Legal Help Now
Let Us Help You

Put our team of criminal defense lawyers on your side today. You are one phone call or email away from getting your questions answered by an experienced defense attorney.

Call us at 877-880-5753 to set up a free consultation or send us an email.

Fill out the form below for a Free Consultation.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Call 877-880-5753 to schedule a free initial consultation.
Offices open weekdays 8am - 7pm, Saturdays 9am - 5pm