L.A. Prosecutor Overseeing Probes Into Mortgage Mess

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Thomas O’Brien, the U.S. Attorney for California’s Central District, is emerging as a likely prosecutor in criminal cases expected from the U.S. mortgage meltdown.

His office is already looking into Pasadena-based IndyMac Bancorp Inc. and Irvine-based New Century Financial Corp., according to securities filings by those two mortgage lenders. Countrywide Financial Corp, based in Calabasas and acquired by Bank of America this summer, is also on his patch.

If O’Brien brings cases to trial, it would mark the first time California’s Central District has prosecuted a major financial fraud case since the 1980s savings and loan crisis.



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