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CEO Arrested In $1.9 Billion Mortgage Fraud Scheme

By Author on Thu, 06/17/2010 - 03:30
CEO Mortgage Fraud

Today Federal regulators charged Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage Corp., with a multi-billion dollar fraud conspiracy involving the government's massive Wall Street bailout program. This scheme resulted in the collapse of Colonial Bank in 2009.