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He repurchased some in February at an average cost of $34 a share.
Those records, kept by the Financial Industry Regulatory Authority, said he sold certain securities with the agreement of his manager and two weeks later repurchased some of them from another party without telling his manager.
Citadel also repurchased some 10 to 20percentt of its own debt in the last few days when approached by bondholders, according to a person with knowledge of the matter.
Fidelity's offer amounted to a $79-million 79-millionyear, but US Facilities has repurchasedealme of its stock since then, thus reducing the offer to $73 milast year
Similar(56)
The company plans to use the cash from the deal to pay down debt and repurchase some of its own shares, he added.
Associated did not say what businesses it might sell but said it might repurchase some of its stock at about the same time.
Mr. Mozilo had become worried about these loans in the first quarter of 2006, when HSBC Bank, a buyer of Countrywide's 80-20 loans, began forcing the lender to repurchase some that HSBC contended were defective.
Still, although the bank has decided it does not need to set aside cash to cover robo-signing problems, it has raised its reserves to handle other potential mortgage problems that might force it to repurchase some loans.
Senior managers, including Mr. Parseghian, approved a strategy that included selling and repurchasing some bonds in its portfolio, a transaction that had no economic effect but created a one-time loss to offset the gain.
Expanding rapidly as the nation's largest home mortgage company, Countrywide Home Loans quietly promised investors who bought its loans that it would repurchase some if homeowners got into financial difficulties.
They also hold bonds issued by the credit card issuers, and the banks are under heavy government pressure to repurchase some of those bonds to help the trusts raise cash to pay off investors.
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