Tuesday, August 19, 2008

More trouble from insider selling of data – Countrywide

One of Countrywide’s senior financial analysts was arrested last month for selling the private information of 2 million Countrywide customers and applicants. Rene Rebollo, Jr., stole the data in 20,000 name increments, pocketing what investigators say is over $70,000 for the data.

One of Rebollo’s customers was paid $4,000 to get 38,000 names from Rebollo, but the ultimate buyer turned out to be an FBI plant that was put on the trail after Countrywide discovered the scheme.

The worst part of this recent breach is that it included not just social security numbers but loan application information, including credit report data. Most of the data was being sold to people in the mortgage industry to use as leads for new loans.

A class-action suit has been filed in the Central District of California (Federal Court) by Finkelstein Thompson, LLP's San Fransisco office on behalf of Edmond and Michelle C. Moses (lead plaintiffs).

As ol' Bean always says, anything you want to know can be bought somewhere.

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