Mortgage bigwig charged $2.2b fraud

On June 17, 2010, in News, by admin

The former head of one of America’s biggest private mortgage lenders has been arrested and charged over a $US1.9 billion ($2.2 billion) fraud that led to a big bank failure, US officials say.

Lee Bentley Farkas of Taylor, Bean & Whitaker was arrested in Ocala, Florida on Tuesday night, according to the US Justice Department. Full story.

 

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