Former Chairman of Taylor Bean and Whitaker Convicted for 3 Billion Dollar Fraud Scheme That Contributed to the Failure of Colonial Bank
April 21, 2011
Total Loss:
$2.9 Billion
Lee Bentley Farkas, the former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), was convicted today for his role in a more than $2.9 billion fraud scheme that contributed to the failures of Colonial Bank, one of the 25 largest banks in the United States in 2009, and TBW, one of the largest privately held mortgage lending companies in the United States in 2009.
Source:
FBI
Posted in:
Internal Fraud
ACH and Wire Fraud