S.E.C. Accuses 3 New Century Financial (NEW) Ex-Officers of Fraud

Credit Bubble Stocks started out with a New Century Financial short. Now, three years later, the S.E.C. is accusing three former officers of fraud. Among other fine examples is this gem:

New Century allegedly misrepresented its LTV ratios, reporting that a 100% LTV 80/20 loan had an LTV of only 84%.

New Century was run Sopranos-style.