Fremont dissident brings in help
From Times Wire Services
A Fremont General Corp. shareholder seeking to take over the lender or have it put up for auction has retained a former Countrywide Financial Corp. executive to advance its efforts. Santa Monica-based Fremont is one of the 10 largest providers of sub-prime mortgages.
Amalgamated Gadget, which owns 8.2% of Fremont’s stock, said in a regulatory filing that it had engaged Nicholas Krsnich, a former Countrywide chief investment officer and chief financial officer of Countrywide Bank.
Amalgamated said it expected Krsnich to play “an active role through the due diligence process and with the bank going forward if our bid should prevail.”
