Two Accused of Selling Countrywide Data Plead Not Guilty

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A former senior analyst for Countrywide Home Loans and another man have pleaded not guilty in an alleged scam to download and sell customer data from the mortgage lender.

Ex-Countrywide employee Rene L. Rebollo Jr. of Pasadena and Wahid Siddiqi of Thousand Oaks entered their pleas on Monday in U.S. District Court in Los Angeles, the Associated Press reported.

During an interview with FBI agents in July, Rebollo allegedly told the FBI he downloaded private financial information, saved the reports on flash drives, and sold them. Siddiqi was arrested after allegedly buying the data. He made information on Countrywide customers available to third parties for two years, prosecutors said, and was caught in a sting operation.

Rebollo could face five years in federal prison if convicted on charges of unauthorized access to Countrywide’s computers. Siddiqi could face 15 years if convicted of fraud.

Calabasas-based Countrywide was acquired by Bank of America last month, as mounting bad loans threatened the solvency of what was then the nation’s largest mortgage lender.

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