Bank CEO gets 30 years for mortgage fraud

From DS News



<http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i
d=a740caba8e&e=ebe71b748c
> Taylor Bean & Whitaker CEO Sentenced to 30 Years
in Prison


The man charged with orchestrating possibly one of the most notorious
mortgage fraud schemes in U.S. history has been handed a 30-year prison
sentence. Lee Farkas, CEO of Taylor Bean & Whitaker, was told Thursday by a
U.S. district judge in Virginia that his crimes merit three decades behind
bars. Judge Brinkema said she did not detect "one bit of actual remorse" in
Farkas. From 2002 through 2009, Farkas and his co-conspirators manufactured
fraudulent mortgages and securities in a scheme that led to the collapse of
Colonial Bank.
<http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i
d=abbc59b2d7&e=ebe71b748c
> > Read More

-sunil


SUNIL SETHI REAL ESTATE

Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive)
38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536
Cell 510 388 2436 / Fax 510 431 9046

<http://www.sunilsethi.com/> www.sunilsethi.com

CA DRE#: 01173766